+
 Bank of Baroda inks Rs 2k cr loan pact with SRDC to repair roads in AP
ROADS & HIGHWAYS

Bank of Baroda inks Rs 2k cr loan pact with SRDC to repair roads in AP

Bank of Baroda (BOB) has partnered with the State Roads Development Corporation (SRDC) for a Rs 2,000 crore loan to expedite road repairing process in Andhra Pradesh.

Representatives of RDC and Bank of Baroda inked the loan deal on Monday. With these funds, RDC will facilitate road rehabilitation works in the state. The RDC has begun the tender process for the rehabilitation of 1,147 roads.

In the first phase, proposals were achieved for 328 works for Rs 604 crore. Proposals were recently invited for the development of 819 roads for Rs 1,601 crore in the second phase. With the recent signing of a Rs 2,000 crore loan deal with the Bank of Baroda for road restoration, the contractors were happy.

It is because RDC will put the loan amount in a separate account. Bill payments will be made right from that account to the contractors who have achieved the road works. As a result, work on the first phase tenders will now be facilitated, and more contractors are planning to take part in the second phase bids.

The Roads and Buildings are gearing up to begin work in the first week of December and achieve it by May 2022, as ordered by Chief Minister YS Jagan Mohan Reddy.

Image Source

Bank of Baroda (BOB) has partnered with the State Roads Development Corporation (SRDC) for a Rs 2,000 crore loan to expedite road repairing process in Andhra Pradesh. Representatives of RDC and Bank of Baroda inked the loan deal on Monday. With these funds, RDC will facilitate road rehabilitation works in the state. The RDC has begun the tender process for the rehabilitation of 1,147 roads. In the first phase, proposals were achieved for 328 works for Rs 604 crore. Proposals were recently invited for the development of 819 roads for Rs 1,601 crore in the second phase. With the recent signing of a Rs 2,000 crore loan deal with the Bank of Baroda for road restoration, the contractors were happy. It is because RDC will put the loan amount in a separate account. Bill payments will be made right from that account to the contractors who have achieved the road works. As a result, work on the first phase tenders will now be facilitated, and more contractors are planning to take part in the second phase bids. The Roads and Buildings are gearing up to begin work in the first week of December and achieve it by May 2022, as ordered by Chief Minister YS Jagan Mohan Reddy. Image Source

Next Story
Building Material

UltraTech’s Limestone Mine Gets India’s First-Ever 7-Star Rating

UltraTech Cement, India’s largest producer of cement and Ready-Mix Concrete (RMC), has received top honours for sustainable mining practices. Thirteen of the company’s limestone mines were awarded star ratings by the Indian Bureau of Mines (IBM), Ministry of Mines, for FY 2023–24 during a ceremony held in Jaipur, Rajasthan. Among these, the Naokari Limestone Mine—part of UltraTech’s Awarpur Cement Works in Chandrapur, Maharashtra—was awarded India’s first-ever 7-star rating for a limestone mine, in recognition of exceptional performance in ‘Green Mining’. The remain..

Next Story
Infrastructure Urban

Sieger Parking Enters Mumbai Market, Expands West India Presence

Sieger Parking, a Coimbatore-headquartered specialist in automated and multi-level car parking systems, has announced its entry into Western India with the launch of a regional office in Mumbai. This move marks a key milestone in the company’s pan-India growth strategy and its commitment to delivering technology-driven, space-efficient parking solutions across urban India. The Mumbai office will serve as the regional headquarters for Maharashtra and neighbouring states, supporting end-to-end operations with on-ground sales, project management, and service teams. The aim is to fast-track..

Next Story
Resources

IGBC Green Kochi Conclave 2025 Champions Culture and Climate Action

The Indian Green Building Council (IGBC), part of CII, hosted the Green Kochi Conclave 2025 on 4 July at Hotel Holiday Inn, Kochi, under the theme “Tharavadu to Tomorrow: Weaving Kerala’s Heritage into a Sustainable Built Environment.” The event brought together policymakers, architects, developers, and thought leaders to discuss Kerala’s progress in blending cultural heritage with sustainable design.  Kerala is emerging as a frontrunner in climate-resilient development, thanks to passive design strategies, rainwater harvesting, cool roof initiatives, and the widespread adopt..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?