IL&FS Receives Approval for Sale of J&K Firms to Singapore's Cube

05 Mar 2024 CW Team

IL&FS (Infrastructure Leasing & Financial Services) has secured approval for the sale of its Jammu and Kashmir-based firms to Singapore's Cube. This development marks a significant step in IL&FS's ongoing efforts to divest assets and streamline its operations, while also fostering international collaboration in the realm of infrastructure development.

The nod for the sale signifies the positive reception of IL&FS's strategic divestment plan, which aims to optimise its portfolio and strengthen financial stability. The involvement of Singapore's Cube reflects cross-border interest in contributing to the development and growth of infrastructure projects in the Jammu and Kashmir region.

IL&FS, a key player in the infrastructure sector, has been actively working towards resolving its financial challenges and revitalising its operations. The approval for the sale of J&K firms aligns with the company's commitment to restructuring and creating a more sustainable and efficient business model.

Singapore's Cube emerges as a noteworthy partner in this transaction, indicating international confidence in the potential of infrastructure development in the Jammu and Kashmir region. The collaboration is anticipated to bring in expertise, investment, and innovative approaches, contributing to the overall progress of the infrastructure projects under consideration.

IL&FS's successful progression in the sale of J&K firms to Cube exemplifies the positive outcomes of strategic divestment, paving the way for renewed focus and efficiency in the infrastructure development landscape.

Infrastructure Transport

30 Oct 2025

RVNL wins North Eastern Railway bridge project worth Rs 1.66 billion

Rail Vikas Nigam Limited (RVNL) announced on 27 October that it has emerged as the lowest bidder (L1) for a significant infrastructure project awarded by the North Eastern Railway, as part of its routine business operations. The project involves the construction of the substructure for Important Bridge No. 50, which will comprise 14 spans of 61 metres each. It will feature a Double D-type well foundation designed for a double line and adhere to the RDSO 25T axle loading standard. The bridge will be built over the river Gandak, situated between Paniyahwa and Valmikinagar stations, as part of ..

Northern Railways plans direct Kashmir link with India

Following the successful launch of twin Vande Bharat trains on the Srinagar–Katra route, marking the completion of the Udhampur–Srinagar–Baramulla rail link in June, Northern Railways is now working towards providing direct rail connectivity between Kashmir and the rest of the country, an official has confirmed. Senior Divisional Commercial Manager of the Jammu Division, Uchit Singhal, said that efforts are underway to resolve operational and security challenges to achieve this milestone for Jammu and Kashmir. Speaking to PTI after introducing a two-minute stoppage for the semi-high-sp..

Railway Board approves new station at Nedumbassery airport

The Railway Board has approved the construction of a new railway station at Nedumbassery, fulfilling a long-standing demand from air passengers using the Cochin International Airport. Union Minister George Kurian’s office announced on Wednesday that the decision marks a major step towards enhancing rail connectivity to the airport, which serves as one of southern India’s key transport hubs. According to the statement, Kurian had earlier met Railway Minister Ashwini Vaishnaw, who assured him that the project would be expedited. The plan gathered momentum following Vaishnaw’s visit last ..