CRDA Approves 59 Tenders Worth Rs 377.02 Bn; Amaravati Work Soon

13 Mar 2025 CW Team

The Capital Region Development Authority (CRDA) has approved 59 tenders for infrastructure development projects in Amaravati, amounting to Rs 377.02 billion. These projects will commence following the State Cabinet’s approval, which is scheduled for March 17.

Initially, tenders were invited for 73 projects worth Rs 480.12 billion, as they had already received Cabinet clearance. Out of these, the CRDA has sanctioned 59 tenders. A Letter of Intent will soon be issued for the approved works. Of the total sanctioned projects, 22 fall within the CRDA limits, with an estimated cost of Rs 226.07 billion, while the remaining 37 projects, overseen by Amaravati Development Corporation, account for Rs 150.95 billion. The development work will involve over 20,000 workers.

Additionally, the CRDA has approved land allotment for 31 organizations and extended the deadline for 11 others to modify their allocated locations. The proposal for location changes for two organizations has also been accepted.

The overall development cost of Amaravati Capital City is projected at Rs 640 billion. To fund the construction, revenue generated from surplus land—either through mortgaging or sales—will be utilised, ensuring that taxpayer contributions are not diverted for capital development. From the land acquired from farmers, the CRDA holds an excess of 6,203 acre, with 1,900 acre designated for allocation to various organizations.

These strategic approvals and financial planning measures aim to accelerate Amaravati’s development while maintaining fiscal discipline.

News source: The New Indian Express

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..