Cabinet Clears Rs 64 Billion Rail Projects in Key States
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved two major railway infrastructure projects with a combined investment of Rs 64.05 billion. These projects aim to strengthen connectivity and freight movement across key states while supporting the government’s multi-modal logistics strategy.The approved projects include the 133-kilometre Koderma–Barkakana doubling in Jharkhand and the 185-kilometre Ballari–Chikjajur doubling, spanning Karnataka and Andhra Pradesh. Together, they will expand the Indian Railways network by 318 kilometres an..
IREDA Raises Rs 20 Billion via QIP to Boost Clean Energy
Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 20.06 billion through a Qualified Institutions Placement (QIP), issuing 121.5 million equity shares at Rs 165.14 each, inclusive of a Rs 155.14 premium over the Rs 10 face value.The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. Launched on 5 June 2025 and closed on 10 June, the QIP drew strong interest from a wide range of qualified institutional buyers (QIBs), both domestic and international, including insurance firms, scheduled banks, and foreign portfolio investors. Th..
Coast Guard Battles Fire on Drifting Cargo Ship Off Kerala
The Indian Coast Guard (ICG) winched five salvage experts and an aircrew diver onto the burning Singaporean container vessel, MV Wan Hai 503, on 11 June 2025 to support emergency towing operations. The ship, which caught fire on 9 June off the coast of Kerala, is still drifting south-east within India’s Exclusive Economic Zone, about 42 nautical miles from Beypore.The vessel is laden with 2,128 metric tonnes of fuel and hundreds of containers, including hazardous materials, raising serious concerns about marine pollution and navigational hazards. While ICG’s sustained firefighting operatio..
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