Infrastructure Sector

The Shard wins Emporis Skyscraper Award

The-ShardWashington, May 20 : The Shard, was chosen by an international panel of experts from more than 300 skyscrapers of at least 100 meters' height and which were completed during the previous calendar year, for the prestigious The Emporis Skyscraper Award.

The award, given by Emporis (www emporis com), the international provider of building data, is now into its fourteenth year.


RInfra notches Rs.1,914 crore net profit last fiscal

Reliance-InfrastructureMumbai, May 19 : Reliance Infrastructure (RInfra) Monday announced its financial results for the year ended March 31, 2014, with a net profit of Rs. 1,914 crore ($319 million), an increase over the corresponding previous year's Rs. 1,872 crore.

The total income for financial year 2014 was Rs. 20,274 (&3.4 billion), against Rs. 23,433 crore in the previous financial year when there was exceptional item of Rs. 379 crore pertaining to sale of RPower shares through Offer For Sale mechanism.


Delhi-Gurgaon expressway now offers toll-free ride

Delhi-Gurgaon expressway now offers toll-free rideCommuters can finally travel on the Delhi-Gurgaon expressway for free without suffering huge traffic snarls at toll plazas as the expressway has been made toll-free.

The Delhi-Gurgaon expressway which links the national capital and the satellite town in Haryana is used by lakhs of commuters daily. The Gurgaon toll plaza had been a major traffic bottleneck on the busy expressway.


Infrastructure investment declines

Infrastructure-investmentNew Delhi, Feb 19 : Investment in infrastructure fell from Rs. 645,175 crore in 2010-11 to Rs. 576,855 crore in 2012-13, the Lok Sabha was informed Wednesday.

Minister of State for Planning Rajeev Shukla said infrastructure was defined to include electricity, renewable energy, roads and bridges, telecommunications, railways, mass rapid transit system, irrigation, water supply and sanitation, ports and airports.

He said among the steps taken to boost investment in infrastructure was setting up a cabinet committee headed by the prime minister to fast track approvals of key projects. (IANS)


Govt. clears AKIC along with some other major infrastructure projects

Amritsar-Kolkata Industrial CorridorWith an aim to provide a boost to India's economic growth, the union government's cabinet committee on economic affairs on Monday approved several major infrastructure projects.

The committee approved setting up of the Amritsar-Kolkata Industrial Corridor (AKIC) and the formation of the AKIC Development Corporation (AKICDC).


Construction activity slowed in November

Construction activity slowed in NovemberAccording to the latest figures released, the construction activity has fallen around 4 per cent, indicating that the economic recovery in the country is still fragile in the UK

The country's manufacturing output and broader industrial production remained stagnated in November, compared to expectations for growth.  The figures released by the Office for National Statistics indicated that the UK economic is still recovering.


Cabinet approves Rs.1,912 crore-worth highway projects

highway-projectsNew Delhi, Dec 26 : The government Thursday approved upgrading of two highway projects under various stages of the National Highways Development Programme (NHDP) with a total outlay of Rs. 1,912.01 crore.

The Cabinet Committee on Economic Affairs (CCEA) approved the development of the Gaya-Hisua-Rajgir-Nalanda-Biharsharif section of National Highway (NH) 82 and the Vadodra-Surat section of NH 8.

The Gaya-Biharsharif section in Bihar, with a total length of 93 km under various stages of the NHDP, is expected to be completed within three years of signing of the contract agreement.


JFE,Myanmar Construction Ministry establish JV firm for steel structure projects

JFE-Engineering-CorporationTokyo, Dec 11 : JFE Engineering Corporation has established J and M Steel Solutions Company Limited, a joint venture company, committed to infrastructure construction with Myanmar's Ministry of Construction.

It has commenced the construction of a new plant.

The company is optimistic as Myanmar has been enjoying dramatic economic development since its democratisation in 2011.

Therefore, the country urgently requires the construction of transportation infrastructure such as roads and railways, as well as logistics infrastructure, including port terminals.


Millions lost health cover due to Obamacare

Millions lost health cover due to ObamacareExperts have said that millions of Americans have lost their insurance covers due to the roll out of the Affordable Care Act - also known as Obamacare and they are not able to able to sign up for the new insurance cover. In a major setback to the newly launched healthcare system, the US authorities have delayed the launch of Affordable Care Act for a year in the country.


RInfra commissions key power line in Maharashtra

Reliance-InfrastructureMumbai, Nov 18 : A 331-km long 400 KV Double Circuit Transmission Line has been commissioned by Reliance Infrastructure Ltd. (RInfra) which will connect key industrial regions of Pune, Aurangabad and Beed, an official said here Monday.

Implemented through RInfra subsidiary Reliance Power Transmission Ltd., the project is part of the Western Region System Strengthening Scheme II (WRSS) in the state, said RInfra CEO Lalit Jalan.

This is the country's first ever fully privately owned inter-state transmission project of the National Grid.


RInfra Q2 net profits rise 12 percent

Reliance-InfrastructureMumbai, Nov 11 : Reliance Infrastructure (RInfra) Monday reported a 12 percent rise in consolidated net profit at Rs. 427 crore for the second quarter ended September over a profit of Rs. 382 crore in the corresponding quarter of the previous year.

The company's total income fell to Rs. 5,273 crore from Rs. 5,798 crore in the corresponding period of the last fiscal.

RInfra's income from operations in the quarter decreased to Rs. 2,831.80 crore from Rs. 3,500.22 crore in the corresponding period of last year.

The company said it earned revenues of Rs. 159 crore from its road projects


Sought investments in infrastructure during China visit: Siddaramaiah

SiddaramaiahBangalore, Sep 16 : Karnataka sought overseas investments in the infrastructure sector and latest technology to improve productivity in the farm sector, Chief Minister Siddaramaiah said Monday after returning from a week-long visit to China.

"As we need huge investments in infrastructure projects to grow our economy in double digit, we held a road show Sep 13 at Dalian on the investment opportunities in the state and policy initiatives to attract global investors," Siddaramaiah told reporters here.


US housing loan demand improve as mortgage rates fell

US housing loan demand improve as mortgage rates fellThe demand for housing loans improved in the US as the mortgage rates fell from their peak this year for the first time in four weeks.


US construction spending 4-year high in July

Construction-spendingWashington, Sep 4 : Construction spending in the United States rose in July to the highest level in four years, fuelled mainly by higher outlays on private projects, said the US Department of Commerce.

Total construction spending was estimated at a seasonally adjusted annual rate of $900.8 billion in July, the strongest performance since June 2009. It was 0.6 percent above the revised level in June and 5.2 percent higher than the year-ago reading, the Department of Commerce said Tuesday.


Core sector’s growth slips to 3.1% in July

Core sector’s growth slips to 3.1% in JulyThe growth of Indian core sector slipped drastically year-on-year in July, giving another indication that the Asian economy is still in the tight grip of slowdown.

The core sector, which includes eight key infrastructure industries viz. coal, crude oil, natural gas, petroleum refinery products, fertilizers, steel, cement and electricity, grew only 3.1 per cent in the month of July 2013 as against 4.5 per cent growth rate recorded in corresponding month of 2012.


Reliance Infrastructure commissions Salem-Ulundurpet road

Reliance-InfrastructureMumbai, Sep 2 : Reliance Infrastructure, part of the Reliance Group headed by Anil Ambani, Monday announced the completion of 136 km road connecting Salem and Ulundurpet in Tamil Nadu at an outlay of Rs. 1,061 crore.

The company in a statement issued here said the road project on build-operate-tranfer (BOT) basis was completed by its special purpose vehicle, SU Toll Road Pvt. Ltd., and collection of toll in three plazas has begun.

The company has been awarded the contract to operate and maintain the road for a concession period of 25 years.


'All RInfra projects will be operational within FY14'

Reliance-InfrastructureMumbai, Aug 27 : All projects of integrated infrastructure and power company Reliance Infrastructure (RInfra) will be operational within the 2014 financial year, the company announced Tuesday.

In a release issued after RInfra's 84th annual general meeting here, the company also announced its "competitive tariff to ensure major flow of consumers back to RInfra".

Declaring that company revenues were up by 80 percent during the quarter, the statement said that the Mumbai Metro being constructed by it will be operational this year.


RInfra to recover past arrears worth Rs.5,550 crore

Reliance-InfrastructureMumbai, Aug 23 : Integrated infrastructure and power company Reliance Infrastructure (RInfra) Friday said the Maharashtra Electricity Regulatory Commission (MERC) has allowed it to recover arrears and carrying costs aggregating to Rs. 5,550 crore over the next six years.

According to the company, the MERC order dated Aug 22, 2013, allows it to recover past arrears, along with 14.5 percent per annum of carrying cost which comes to about Rs. 925 crore per year, aggregating to Rs. 5,550 crore over the next six years.


RInfra posts marginal rise in Q1 net profit

Reliance-InfrastructureMumbai, July 30 : Reliance Infrastructure (RInfra) Tuesday announced current fiscal first quarter net profit at Rs. 415 crore ($70 million) over the Rs. 412 crore in the corresponding quarter of the previous year -- less than a percent growth.

During the quarter ended June 30, the company had a total operating income of Rs. 5,452 crore ($918 million), against Rs. 5,383 crore in the corresponding quarter of the previous year.


PMO sets deadlines for key infrastructure projects

PMO sets deadlines for key infrastructure projectsThe Prime Minister's Office (PMO) on Thursday for various steps to implement key infrastructure projects, with an aim to accelerate the process of infrastructure development in the country.

The list of planned infrastructure projects includes cover sectors like highway, railway, port, airport and power.

The deadlines for the implementation of the projects were set at the first meeting of the steering group appointed by Prime Minister Manmohan Singh to step up infrastructure investment.


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