Considering banks have turned completely averse to funding real estate or infrastructure (ICICI has shut down its project finance division that funded infrastructure), the announcement of a Rs 250 billion fund is a lifeline.
The Central Public Works Department (CPWD) has reportedly offered the Jammu and Kashmir (J&K) administration support in developing economical and quality infrastructure in the upcoming Union Territories of J&K and Leh which will be formed on October 31.
The government is set to spend an estimated amount of Rs 10 billion in the span of the next three years for the expansion of three airports in the newly formed union territory of Jammu and Kashmir (J&K). This investment to improve connectivity is seen in light of the government’s plans to bring the territory closer to rest of the nation.
Fresh bids for India’s ambitious tunnel project – the Zojila tunnel – in Jammu and Kashmir has recently been invited by the government. State-run National Highways & Infrastructure Development Corporation (NHIDCL) will be accepting contract queries till March 18, and bids for the contract can be thereafter submitted between April 1-8 as per the bid documents.
In order to ensure a quality power supply to Ladakh throughout the year, Prime Minister Narendra Modi has reportedly dedicated the 220 kV Srinagar-Alusteng-Drass-Kargil-Leh transmission system to the nation
Reportedly, the travel time between Delhi to Leh will be brought down to 20 hours from 40 hours. A new proposed project is expected to bring down the travel time from Delhi to Leh by 50 per cent. The proposed project is expected to cost Rs 833.6 billion.