Indian Infrastructure Industry News & Updates
Govt clears massive rail-road tunnel under Brahmaputra river – Why it matters
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, yesterday has approved the construction of a 4-lane access-controlled greenfield connectivity from Gohpur on NH-15 to Numaligarh on 715 section, including 15.79 Km of Road cum Rail Tunnel under the River Brahmaputra.
Govt plans to revive private investment in highways with ₹1 trn project
India is working to lure private capital back into highway construction, a decade after investors retreated over concerns about revenue risks and bureaucratic delays.
Weekly forex reserves slip to $717.06 billion; sharp drop in gold reserves
India’s foreign exchange reserves dipped USD 6.711 billion in the week that ended February 6 to USD 717.064 billion, after having reached a new all-time high in the prior week, according to the Reserve Bank of India‘s latest data.
Signature Global and RMZ to invest Rs 7,500 crore to develop commercial property in Gurugram
Delhi NCR-based real estate firm Signature Global has inked an agreement to form a joint venture with Bengaluru’s RMZ, a leading developer and asset manager of commercial real estate in India, to develop a mixed-use project comprising office buildings, hotels, and retail spaces on the Southern Peripheral Road (SPR) in Gurugram. Under the agreement, Signature Global and RMZ will form a 50:50 joint venture, with RMZ committing an investment of Rs 1,283 crore to acquire a 50% equity stake in the project.
RERA needs more teeth, not repeal, to rein in builders
Remarks by the apex court on the functioning of the Real Estate (Regulation & Development) Act (RERA), a 2016 legislation to protect home buyers, has set the proverbial cat among the pigeons. Chief Justice Surya Kant, hearing a plea by the Himachal Pradesh government to be allowed to shift its RERA offices from Shimla to Dharamshala, noted the institution was doing nothing except “facilitating” defaulting builders.
