NIIF Transfers Rs 41.9 Billion Road Assets to Cube InvIT
The National Investment and Infrastructure Fund (NIIF) has successfully transferred ownership of two operational annuity-based road projects to Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt. Ltd. The deal marks a strategic shift of approximately Rs 41.9 billion (including cash), subject to final closing adjustments, further strengthening Cube InvIT’s high-quality infrastructure portfolio.The two road assets—Quazigund Expressway Pvt. Ltd. (QB) and Athaang Jammu Udhampur Highway Pvt. Ltd. (JU)—cover nearly 80 kilometres in Jammu and Kashmir. QB includes one o..
DRA-Siemens JV Wins Rs 41.4 Billion Bullet Train Contract
A consortium of Dineshchandra R Agrawal Infracon (DRA Infra) and Germany-based Siemens has secured a Letter of Acceptance (LoA) from the National High Speed Rail Corporation Ltd (NHSRCL) to implement the signalling and telecommunication system under Package MAHSR-S-1 of the Mumbai–Ahmedabad bullet train project.The contract, valued at Rs 41.4 billion, entails end-to-end design, manufacturing, supply, installation, system integration, testing, commissioning, and comprehensive maintenance of the high-speed rail’s signalling and train control systems, telecommunication infrastructure, and ope..
HCC Emerges Lowest Bidder for Patna Metro Line 1 Tunnels
The Delhi Metro Rail Corporation (DMRC) has declared Hindustan Construction Co. Ltd. (HCC) as the lowest bidder for the underground tunnelling works under Package PC05 of the Patna Metro Rail Project Line 1, which spans 16.86 km between Danapur Cantonment and Khemni Chak.The tender, floated in December 2023, had an estimated value of Rs 16.83 billion. Following the opening of technical bids in October, five major infrastructure firms were in contention. HCC submitted the most competitive financial bid at Rs 14.18 billion, followed by Afcons–Sam India JV (Rs 15.45 billion), ITD Cementation (R..
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