Bids Invited for Rs 62.5 Billion Vizag Metro Project
The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..
Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion
A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..
Modi Inaugurates Tuticorin Terminal, Unveils Rs 48 Billion Works
Prime Minister Narendra Modi inaugurated the new terminal building at Tuticorin Airport and laid the foundation for development projects totalling Rs 48 billion in Tamil Nadu upon his return from the Maldives. The state-of-the-art terminal, spread across 17,340 square metres, is designed to handle 2 million passengers annually.In road infrastructure, the Prime Minister dedicated the four-laning of the 50-km Sethiyathope–Cholapuram stretch of NH-36, which includes three bypasses, a one-kilometre four-lane bridge over the Kollidam River, four major bridges, seven flyovers, and several underpas..
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