National

The Department of Financial Services of the Union Finance Ministry recently conveyed to bank CEOs that they could finance PPP road projects if the NHAI acquired at least 80% of the land required for a project. Simultaneously, under the new rules, developers are allowed to collect toll after 75% completion of a project. The move is expected to ease financing ...

A new parking policy envisaged by the Brihanmumbai Municipal Corporatoin (BMC) plans on giving permits to local residents to park their vehicles on the city roads. The BMC is in the process of compiling a list of roads where residents can park vehicles on one side of the road. Residents will be issued annual parking permits, allowing them to park ...

In a bid to inspire confidence in the Indian infrastructure sector among global investors, the central government has allowed India Ratings, the Indian arm of global rating agency Fitch, to rate infrastructure debt funds (IDFs) in the country. India Ratings is coming out with a new product for this purpose, which is expected to encourage overseas sovereign wealth funds and ...

IRB Infrastructure has received approval from its board to raise up to ?500 crore by means of private funds. The funds will be raised by issuing redeemable non-convertible debt securities, including senior and subordinate debt securities in one or more tranches. IRB showed a net profit of ?151 crore, as compared to ?120 crore in the same quarter last year ...

The project to convert the Ahmedabad-Vadodara highway into six lanes is likely to be completed in two years. IRB Infrastructure is executing the project on a design, build, finance, operate and transfer (DBFOT) basis in BOT (Toll) mode of delivery. It will have six-lanes and two service lanes on each side. The special purpose vehicle (SPV) for the project, IRB ...

The Airports Authority of India (AAI) will soon get land from the Tamil Nadu government for the expansion of the Madurai and Tuticorin airports. The additional land will be used for expanding the runways, constructing additional terminal buildings to cater to the increasing passenger traffic, the air traffic control tower and other facilities. The Tamil Nadu government has nearly completed ...

The concessionaire for the Mumbai Trans Harbour Link (MTHL) project will get a 10% shortfall loan from the Union government?s empowered committee of the department of economic affairs (DEA). The loan will make the project financially more viable and more bankable. It will also ensure that bankers? debt service obligations are met in case the traffic on the Link falls ...

The Delhi Metro Rail Corporation has issued a contract to the Thales Group to supply a Passenger Information System for the Jaipur Metro. The system will interface with a rail traffic management system and use a single software to facilitate generation and distribution of real-time traffic information to passengers and service personnel. The integrated, synchronised passenger announcement system, coupled with ...

The Maharashtra State Road Transport Corporation (MSRTC) plans to install Wi-Fi sets on 100 Shivneri AC Volvo buses that it operates between Mumbai and Pune. The service, which will be free, will allow commuters to access the internet from their laptops, iPads and smartphones such as Android, BlackBerry and iPhones. Before using the service, commuters will receive a query, in ...

IL&FS Transportation Networks recently got a contract from the National Highways Authority of India (NHAI) to widen a 123km stretch of the national highway NH2. The project, to convert the stretch into a six-lane road, will be executed under the National Highways Development Project (NHDP) Phase V on a design, build, finance, operate and transfer (DBOFT) basis. It will be ...