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 ...

The Federal Highway Administration (FHWA) in the US has used a new robot to check the safety and structural soundness of concrete bridge decks across the country. The new technology has been developed in collaboration with Rutgers University, and combines a variety of customised imaging technologies that give safety inspectors more accurate real-time information on the overall condition of the ...

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 ...

Secro has got a $355 million contract from the Virginia Department of Transportation (VDOT) in the US to integrate and operate VDOT?s transportation operation centres and manage the safety service patrol. The project will help VDOT implement a single, real-time, state-wide system to manage 57,000 miles of roads, moving over from a conventional traffic management system. Serco will install and ...

Highway Resource Solutions (HRS) has introduced an integrated road safety solution known as Intellicone on parts of the M6 motorway in the UK. Intellicone alerts road maintenance personnel and workers to the danger of an approaching vehicle. The system has a wireless sensor network consisting of impact sensors that transmit alarm signals to the Intellicone Portable Site Alarm (PSA) in ...

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 ...