As Prime Minister Narendra Modi pushes for improvements in India´s infrastructure and housing, the nation´s steel consumption is set to accelerate. China´s demand for steel, meanwhile, is retreating from the double-digit growth rates of the past 10 years as Beijing tries to shift the economy to focus on domestic consumption rather than exports.
Tag: investment
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Unravelling growth
At 4.87 million km, India has the second largest road network in the world. Transporting over 60 per cent of the country´s goods and serving 85 per cent of total passenger traffic, it is little wonder the Modi Government has accorded the highest priority to developing roads and highways.
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AAI goes for expansion
State-run Airports Authority of India (AAI) will invest up to Rs 1,400 crore in further expansion of Chennai Airport and setting up an ATC tower at Kolkata Airport. This comes after the government dropped its privatisation plans.
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Investment in Railways to increase
Girish Pillai, Advisor-Infrastructure, Indian Railways, has highlighted key features of the Indian Railways´ five-year action plan. Pillai said the National Transport Development Policy Committee has estimated investment till 2032 to be worth Rs 32,00,000 crore.
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Govt looking at Rs.3.3 lakh cr investments in transmission
The government is looking at an investment of around $50 billion (around Rs 3.3 lakh crore) in the transmission segment in the next five years. Piyush Goyal, Union Power Minister, said, ´In the next six months, at least 12-13 transmission lines are being bid out worth $16 billion. Hopefully, in the next five years, we are looking at an investment of nearly $50 billion.
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Govt plans to offer 850 ports for development to private sector
With an aim to scale up inland waterways infrastructure, the government is planning to offer 850 small and medium sized ports along key rivers for development by the private sector including foreign investors. This could see an investment of nearly Rs 4,000 crore.
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Efforts to attract FDI paying off: Arun Jaitley
Government´s efforts are paying off as India has become the highest FDI destination for greenfield projects, Finance Minister Arun Jaitley said in late September. ´Satisfying, our efforts are paying off. India becomes the highest FDI destination for greenfield projects,´ Jaitley tweeted.
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Brookfield buys nine projects in India
Gammon Infrastructure Projects Limited (GIPL) has decided to divest its entire stake in nine infrastructure projects to BIF India Holdings Pte Limited, jointly held by Brookfield Asset Management and its affiliates and Core Infrastructure India Fund Pte Limited.
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License fee for services increased
The government has revised the rates for various services extended at the minor and intermediate ports in the state of Andhra Pradesh.
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Porting Ahead
The government has announced a massive investment in India´s ports sector, which is likely to boost the country´s economy. The government has massive plans of developing ten coastal economic regions by reviving the country´s Sagarmala (string of ports) Project.