In a bid to promote rural infrastructure development, Prime Minister Narendra Modi reportedly stated that Rs 25 trillion will be spent on all villages spread across the country to strengthen their infrastructure.
A new commercial airport will be developed in Kutch, Gujarat, after the Union Environment Ministry gave it a green nod following consultations from a panel of experts. Estimated to be worth Rs 14 billion, the project will be built by Mundra International Airport.
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With the economy gasping for oxygen, in this column we provided an ‘August’ formula for kickstarting growth in the last issue! Fortunately, the FM has heard the cries of anguish and decided to act, with initiatives aimed at generating sales for the auto industry.
Finance Minister Nirmala Sitharaman announced financial support of Rs 200 billion for about 0.35 million incomplete housing projects (non-NPA and non-NCLT) in the affordable and middle-income segment.
The Mumbai Metropolitan Region Development Authority (MMRDA) has reportedly, called on domestic and international investors to fund its infrastructure development projects that are estimated to be worth around Rs 1 trillion.
As reported, the Andhra Pradesh Government successfully awarded Megha Engineering and Infrastructures (MEIL) the contract for the key works of the Polavaram irrigation and hydel project that is estimated to be worth Rs 43.59 billion. The YSR Congress went in for the reverse tendering process for the project where MEIL was the only bidder.
As reported, nine road stretches of around 566 km running through Uttar Pradesh, Jharkhand, Bihar and Tamil Nadu that were put up for auctioning under the toll-operate-transfer (TOT) model by the National Highways Authority of India (NHAI), are expected to receive bids from Adani Enterprises, Cube Highways and Infrastructure, Canada Pension Plan Investment Board (CPPIB) and IRB Infrastructure.