The Union Cabinet is soon to discuss the proposal for exit clause for highway developers. If the proposal is cleared, road contractors can exit from a road project by bringing in a new developer after the financial closure is complete. The exit clause proposal can only be triggered by the contractor who plans to exit, and cannot be moved without the consent of the bank, which has funded the project.
Category: Roads & Highways
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Hyderabad’s Mettuguda road to be repaired soon
In Hyderabad, the authorities concerned have initiated steps to repair the main road opposite the St. AnthonyÂ’s Church to Mettuguda junction, which is in a bad condition. Media had exposed the bad condition of the stretch. The process of sanction of estimates and calling for tenders to take up repair work of the stretch will be at the earliest, the authorities concerned said.
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Secured loans to PPP projects to help road building sector
The Reserve Bank of India's (RBI) move to consider loans to public -private-partnership (PPP) projects as secured lending and initiatives such as the creation of Infrastructure Debt Fund (IDF) augur well for the ailing road building sector, ratings agency Icra has said on June 20.
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Fresh survey ordered for 6-lane stretch in Pune area
In Pune, the district administration has ordered a fresh survey of the stretch between toll plaza at Shindewadi and the beginning of the highway near the Katraj tunnel. This was done in connection with land acquisition for a project, said the Pune District Collector Vikas Deshmukh on June 20. Lok Sabha MP from Baramati, Supriya Sule during the day held a meeting of villagers from Khed Shivapur with the district collector to hear grievances put forward by the villagers.
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CCEA likely to clear national highway project in Rajasthan
Under the National Highways Development Project (NHDP) Phase-IV, the Cabinet Committee on Economic Affairs is likely to accord final approval for development of a National Highway in Rajasthan soon. Final approval is likely for the selected sub-project approved by Expenditure Finance Committee (EFC) for the development of two laning with paved shoulders of Uniara, Nainwa, Hindoli, Jahanpur, Shahpura, Gulabpura section of National Highway NH-148D in Rajasthan, sources said.
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World Bank’s loan of $216 mn to improve Kerala roads
To improve road conditions and safety in Kerala the Union government has signed a pact with the World Bank for $216 million loan for the State Transport Project. The loan and project agreements for World Bank assistance of $216 million for Kerala State Transport Project were signed between the Central government, Kerala government and World Bank on June 19, an official statement said.
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TN strives to provide better link roads to forest dwellers
The Tamil Nadu government is to take steps to better the road connectivity to forest dwellers within various reserve forest areas and on their fringes across the State to reach main towns or roads. The State Forest Department through its Forest Engineering Division, headquartered in Tiruchi, has improved several black topped roads in the state.
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World Bank sign $216 mn loan pact for Kerala projects
World Bank signed a $216 million loan agreement with the Government of India and the Government of Kerala for the second Kerala State Transport Project. The loan agreement was signed by Nilaya Mitash (Joint Secretary, Department of Economic Affairs) on behalf of Government of India and Onno Ruhl, Country Director, World Bank (India) on behalf of the World Bank
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Govt wants to build maintenance-free highways
Cement concrete roads can perform better than bituminous stretches, the New Union Road Transport and Highways Minister Oscar Fernandes has said. He has set the agenda of constructing 'maintenance free highways' and a mechanism for quick fix of potholes and damages of road stretches. The Minister has asked his officials and engineers to come out with proposals for this.
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Govt wants to build maintenance-free highways
Cement concrete roads can perform better than bituminous stretches, the New Union Road Transport and Highways Minister Oscar Fernandes has said. He has set the agenda of constructing 'maintenance free highways' and a mechanism for quick fix of potholes and damages of road stretches. The Minister has asked his officials and engineers to come out with proposals for this.