Banks and Infra Finance Firms Urged to Collaborate for Major Projects

09 Jan 2025 CW Team

M Nagaraju, Secretary of Financial Services, on Monday highlighted the importance of collaboration between banks and infrastructure finance companies to finance large-scale infrastructure projects. He stressed the need for shifting focus from completed projects to greenfield ventures, which will drive fresh asset creation.

Nagaraju spoke at the National Summit on Indian Infrastructure for Viksit Bharat 2047, organised by the Indian Infrastructure Finance Company Ltd (IIFCL). He also emphasised the need to protect infrastructure projects from corruption and fraud.

He pointed out that infrastructure projects free from fraud, fund diversion, and delays are often revenue-generating and viable. He suggested that IIFCL should lend at least Rs 1 lakh crore in the next three years to support India’s aspirations of becoming a developed nation.

To date, IIFCL has sanctioned loans totalling Rs 2.8 trillion and disbursed Rs 1.4 trillion, half of which occurred in the past four to five years.

Nagaraju referred to infrastructure in Europe and North America, underscoring the importance of creating infrastructure that not only serves functional purposes but is also visually appealing.

To achieve 'Viksit Bharat', Nagaraju recommended that IIFCL focus on innovative products, new finance mechanisms, governance, and regulatory reforms to ensure the creation of sustainable infrastructure.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..