Decline Forecasted in MORTH Road Awards by 40-43% for FY24, Reveals ICRA

22 Dec 2023 CW Team

The Ministry of Road Transport and Highways (MORTH) is set to experience a significant decrease in road awards during the fiscal year 2023-24, according to a recent report by ICRA. The study anticipates a substantial 40-43% decline in awards compared to the previous year. This downturn is attributed to various factors, including economic challenges, policy shifts, and the ongoing dynamics within the logistics sector. The decreased awards pose implications for infrastructure development, impacting not only the construction industry but also the overall economic growth. Key factors influencing this decline include the economic climate, changes in government policies, and the evolving landscape of the logistics industry. Economic uncertainties have led to a more cautious approach in awarding road projects, with authorities taking measured steps in response to the broader economic scenario. The decline, as predicted by ICRA, underscores the need for adaptive strategies within the infrastructure and construction sectors. Stakeholders may need to recalibrate their plans in response to the changing dynamics and align themselves with emerging trends in road development. As the situation unfolds, industry players must closely monitor developments, staying attuned to policy changes and economic indicators that may impact the trajectory of road awards. Navigating this challenging landscape requires a combination of resilience, strategic planning, and a proactive stance to adapt to the evolving scenario.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..