Commuters 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.
New 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)
With 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).
According 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.
New 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.
Tokyo, 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.
Experts 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.
Mumbai, 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.
Mumbai, 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
Bangalore, 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.
The 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.
Washington, 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.
The 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.
Mumbai, 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.
Mumbai, 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.
Mumbai, 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.
Mumbai, 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.
The 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.
Occupants of unauthorized floors in seven buildings in Worli's Campa Cola Compound are worried about their future as the Brihanmumbai Municipal Corporation (BMC) is set to demolish the unauthorized floors within three months.
The BMC has already issued tenders to demolish the unauthorized portions of the buildings. The civic body is expected to start the demolition work in October this year.
Jaipur, July 23 : Reliance Infrastructure Limited (RInfra), part of the Reliance Group, through its Special Purpose Vehicle (SPV) JR Toll Road Pvt. Ltd., on Tuesday announced the completion of its Rs. 556-crore road project from Jaipur to Reengus (JR) in Rajasthan. Toll collection has started on the four-laned 52-km road.
The project has been executed on a DBFOT (Design, Build, Finance, Operate and Transfer) basis under the aegis of the National Highways Authority of India. RInfra has been awarded the contract for a concession period of 18 years.