NIIF buys out Jammu Udhampur Highway

04 Aug 2022 CW Team

On August 2, the National Investment and Infrastructure Fund (NIIF) paid $290 million for a 100 per cent equity investment in the SP Jammu Udhampur Highway owned by the Shapoorji Pallonji Group through the NIIF Master Fund.

The project was developed under a Build-Operate-Transfer (Annuity) basis from the National Highways Authority of India (NHAI). The NHAI makes regular, semi-annual payments to the project, delivering consistent and dependable cash flows.

The 64.5 km long, four-lane Jammu Udhampur Highway, which has a 1.4 km twin-tube tunnel segment, improves accessibility to the Vaishno Devi temple.

Afcons Infrastructure, a division of SP Group, took on the project's sophisticated engineering construction in difficult steep terrain amid adverse weather circumstances.

With the addition of four assets, the fund's road portfolio now has a total annual revenue rate of more than $170 million, according to a statement from NIIF

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..