Construction work on the Hyderabad metro rail will start shortly as L&T Hyderabad Metro Rail, a subsidiary and special purpose vehicle of L&T Infrastructure Development Projects, has achieved financial closure for the project. Hyderabad Metro Rail will start handing over land to L&T in a phased manner.
The Pune Municipal Corporation (PMC) standing committee has stranded about 120 development project proposals related to the city' s infrastructure. These plans were proposed by the civic administration at different stages since March last year.
For two of its road projects in Maharashtra, L&T Infrastructure Development Projects (L&T IDPL), a subsidiary of Larsen & Toubro Ltd, and one of the pioneers in infrastructure development in India, has achieved financial closure on November 30.
Kanakia Group, whose promoters recently sold a controlling stake in multiplex chain Cinemax India to PVR, is building a portfolio of redevelopment projects as it trains its focus again on residential developments. Mumbai-based Kanakia Spaces is in advanced negotiations for the redevelopment of a housing society in Mumbai’s Versova suburb.
Bank credit is fast running out. Instruments and financiers to support the next wave of infrastructure development are works in progress. While infrastructure finance appears to be transiting towards maturity, Charu Bahri wonders if it is happening quickly enough.
The Union Ministry of State for Railways has urged state governments to share the costs of railway development projects. India has 63,000 km of railway line and is planning to add 23,000 km of more railway lines by 2020.