Southern Red Sea Shipping Disruption Raises Concerns in Oil Markets

Turkish Firm Owes Rs 800 Million to Metro Contractors

Gulermak, a Turkish company involved in constructing the underground section of the Kanpur Metro, has allegedly left India without clearing dues of Rs 800 million owed to 53 subcontractors. The project was jointly executed with Sam India under the supervision of Uttar Pradesh Metro Rail Corporation (UPMRC).The payment delays reportedly began after diplomatic tensions between India and Turkey following Operation Sindoor. Contractors claim they received irregular payments before company officials vacated Kanpur and ceased communication. Despite repeated appeals, UPMRC has not intervened, prompti..

Texmaco Wins Rs 1.41 Billion Wagon Supply Order

Texmaco Rail & Engineering Limited, a part of Adventz Group, has secured an order worth Rs 1.41 billion from the Ministry of Railways for supplying flat multi-purpose (FMP) wagons. The new contract aims to enhance India’s freight infrastructure and modernise cargo movement.The FMP wagons are designed to carry steel coils, ISO containers, military vehicles, and support Roll-on/Roll-off (RoRo) operations. These versatile wagons are built for adaptability and efficiency across multiple sectors including defence and logistics.By accommodating one 40-foot or two 20-foot ISO containers and ena..

Centre Clears 4-Lane Highway Project in Andhra Pradesh

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the construction of a four-lane highway corridor from Badvel to Nellore in Andhra Pradesh. The project will follow the Design-Build-Finance-Operate-Transfer (DBFOT) model and involves an estimated capital cost of Rs 36.53 billion.The corridor will connect critical industrial nodes such as Kopparthy on the Vishakhapatnam–Chennai Industrial Corridor, Orvakal on the Hyderabad–Bengaluru Industrial Corridor, and Krishnapatnam on the Chennai–Bengaluru Industrial Corridor. It will begin at Gopavaram..