Amidst a major push for expansion of the suburban Mumbai rail network in the Union Budget, the government has informed Parliament that the national transporter has incurred a loss of more than Rs 4,000 crore in the last three years in running the Mumbai locals.
Reliance Industries Limited (“RIL”) today executed definitive agreements to acquire majority shareholding constituting 72.69% (on fully diluted basis) from existing investors of Indiavidual Learning Pvt Ltd (“Embibe”), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student.
Hyderabad: IL&FS Engineering and Construction Company Limited (IL&FS Engineering Services) has received a Fax of Acceptance (FOA) from Gas Authority of India Limited (GAIL) for Laying and Construction of Steel Gas Pipeline along with Associated Facilities for Section V of Bokaro- Angul Section of Jagdishpur –Haldia -Bokaro- Dhamra Pipeline Project (JHBDPL) PH-II in Odisha state.
Lakshadeep Pvt Ltd has emerged as the front-runner to acquire Jaypee Infratech with a bid of around Rs 7,350 crore. This offer, however, is way lower than what the real estate developer had proposed to lenders a year back to pay off debt.
With the Reserve Bank giving no relaxation to its February 12 framework on resolution of stressed assets, banks are likely to become more cautious and risk-averse to long-term funding, especially to the infrastructure sector, say lenders.
Researchers from Indian Institutes of Technology (IIT)-Madras and Bombay along with Harvard University are using big data to build India's first comprehensive database on infrastructure projects called Integrated Database on Infrastructure Projects (IDIP).
The National Highways Authority of India (NHAI) is looking to raise Rs 8,500 crore from Life Insurance Corporation (LIC) of India and another Rs 10,000 crore from National Small Savings Fund to finance the ambitious road construction target under the Bharatmala highway development programme.
The road transport ministry will reduce the construction period from the current 30 months to only 18 months in the case of stretches that will be widened to two-and-half lane National Highways with 100% government funding. Moreover, if the contractors complete such projects before time, they can get higher incentive as well.
SANY India, a leading manufacturer of construction, heavy machinery and renewable equipment today announced handover of 6 Transit Concrete Mixers to one of the major business house in Pune, M.P. Group. SANY India offers formidable range of Transit Concrete Mixers ranging from 6, 7 and 8 m3 capacities. The Transit mixers are featured with advanced Design, Rugged and reliable components and are manufactured using latest world-class facilities.
Central Sulawesi in Indonesia will soon be much easier to reach thanks to a runway extension at Morowali Airport. A fleet of VolvoÂ´s heavy-duty excavator EC210D is deployed for the runway ground work but also for other projects in the Central Sulawesi province.