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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..

Karnataka Seeks New Airports as Hubballi Traffic Climbs

As Karnataka intensifies efforts to boost its aviation infrastructure, Hubballi Airport is witnessing a sharp rise in passenger traffic, while nearby Belagavi struggles to maintain air connectivity. The state has proposed three new international airports, with top priority given to finalising a site for Bengaluru’s second international airport.State Infrastructure Development Minister MB Patil met Union Civil Aviation Minister K Ramamohan Naidu in New Delhi to push for faster clearances. Patil urged the Centre to expedite the Airports Authority of India (AAI) report evaluating three shortlis..