A sigh of Covid relief: Toll and HAM projects may benefit

In FY2021, the Government of India announced various liquidity measures under ‘Atmanirbhar Bharat’ financial package. Soon after, Ministry of Road Transport and Highways (MoRTH) and National Highways Authority of India (NHAI, rated CARE AAA and Stable) followed the suit by announcing slew of measures for the road sector in a bid to boost liquidity for roads  developers against the backdrop of Covid 19 pandemic and resurrect investor confidence. These measures have been extended on a time-to-time basis by NHAI. On 1 July 2021, NHAI proposed to MoRTH to continue the benefits till 30 September 2021 in addition to grant of extension of time (EoT) under Covid-II. 

In CARE Ratings’ view, if the proposal is accepted, the likely extension of relief measures shall augur well for the road  developers of under-construction Hybrid Annuity Model (HAM) projects primarily in terms of EoT for completion and additional time for achieving financial closure. Presently, the road developers or sponsors are entitled to these benefits under the Atmanirbhar Bharat package announced in FY2021. The proposed grant of extension of concession period for  operational toll road projects is in alignment with the existing provisions of Concession Agreement. On an overall basis, in CARE Ratings’ opinion such extension in concession period for toll projects shall be limited to about 20 days. 

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..