PIB approves Surat Metro Rail Project

26 Mar 2019 Editorial Team

In order to enhance the public transport for the Diamond City, the Public Investment Board (PIB) has approved the Surat Metro Rail project at a cost of Rs 121.14 billion, with two corridors of 40 km length from Sarthana to Dream City & Bhesan to Saroli in the first phase.

The proposed project is reportedly sent to the finance department and the Union cabinet for final approval as a formality. Once an approval is received, work is likely to start soon. The project will be reportedly completed by 2021-22 from the day work starts.

Including underground stations, Surat Metro project is expected to have 38 stations, of which the Surat Municipal Corporation (SMC) plans to construct five elevated stations at a cost of Rs 1.11 billion on public-private-partnership (PPP) model.

That said, the Dream City company would construct a station at the cost of Rs 312 million. The other station to be developed on PPP model include Rupali Canal, Althan Tenement, Aquarium and Athwa Chowpaty.

The metro project is expected to reduce the load of traffic. The route from Sarthan to Dream City is expected to provide a seamless transport to hundreds of diamond workers living in Varachha and Katargam to Surat Diamond Bourse, while the second route, from Saroli to Bhesan, will provide an alternative means of transport to a large working-class population who travel between west zone and Udhna.

Real Estate

17 Sep 2025

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..