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Creation of a network of highways in Jammu & Kashmir and Ladakh is bound to give impetus to growth in the region, the Ministry of Road Transport and Highways said on Friday.
Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said they are working on a Geographic Information System-enabled data base of industrial areas and clusters across the country.
"Out of 971 sanctioned schemes covering a total length of 4,303.70 km, 414 projects with a total length of 1,353.12 km have been completed, while 528 schemes covering 2,849.98 km of roads are in progress," the statement issued by the Chief Minister's Office said.
Singapore-based Cube Highways, which bagged TOT-3 bundle in November 2019 quoting Rs 5,000 crore, has so far not made the payment to NHAI.
A year on, talks between the parties have not fructified, with NIIF not ready to bear any risks, two senior officials closely aware of the developments told ET. “We have decided to invest equity on our own,” a senior NHAI official said. “Working on its own, NHAI can act faster,” the official said, citing delays in discussions.
"The company has been declared as L-1 bidder in the tender floated by the National Highways Authority of India for the...project in the state of Telangana," the company said in a filing to the BSE. The company informed exchanges that the project is worth Rs 1,140.50 crore.
States have also been encouraged to promote such units in a bid to help the economy recover from the disruption caused by the lockdowns. In line with this, UP has decided to set up MSME parks in Varanasi, Agra, Kanpur, Moradabad, Gorakhpur and Azamgarh. The state has the largest number of MSM units in the country at 14%.
The government has identified eight sectors including textiles, leather, agriculture and gems & jewellery where transportation and warehousing issues will be resolved as part of a mega plan to reduce logistics costs to 10% of GDP from 13-14% now.
“At present everything is in a state of pandemonium,” Hemant Kanoria, chairman of Srei Infrastructure Finance Ltd. in Kolkata, said, while seeking a one-time recast of loans for construction firms, clearance of dues owed by the government and faster resolution of disputes to ease cash flow. “Otherwise everyone is dead.”
Addressing the company's 22nd annual meeting virtually, the company's Chairman and Managing Director Virendra Mhaiskar said the firm will focus on BOT (build-operate-transfer)-based projects.
“On financing options for infrastructure, we are just recovering from the consequences of excessive exposure of banks to infrastructure projects,” Das said.
A combination of borrowings from central public sector enterprises (CPSEs) and central government could be considered to finance the stimulus, which in turn could be channelled into relevant projects, said the industry body. The suggestions came on the back of findings from an industry-wide survey which showed that businesses fear negative top-line growth and economic impact due to the Covid-19 pandemic to extend to the next three quarters or more.
"Total original cost of implementation of the 1,686 projects was Rs 20,66,771.94 crore and their anticipated completion cost is likely to be Rs 24,71,947.66 crore, which reflects overall cost overruns of 4,05,175.72 crore (19.60 per cent of original cost)," Ministry of Statistics and Programme Implementation latest report for March 2020 said.
Delhi-Varanasi high-speed rail (HSR) corridor plan rolled out, aims to reduce travel time to 4.5 hours
Once the Delhi-Varanasi corridor is ready, a bullet train could reduce travel time between the two cities to about four-and-a-half hours.
The two members in the Supreme Court-appointed committee on Char Dham road project have raised concerns over the road transport and highways ministry’s decision to divide the entire stretch to 53 smaller projects to avoid conducting environment impact assessment (EIA) study despite the hills being contiguous.
"During the meeting, it was given out that Z-Morh tunnel project comprises 6.5-km tunnel, a 6-km approach road, two major bridges and one minor bridge. The project worth Rs. 2,379 crores is expected to be completed by 30th June, 2021 and will provide round-the-year connectivity to Sonamarg," an official spokesman said.
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