Centre retains 50% stake in Noida metro, to release INR 970 crs
The Noida Metro Rail Corporation (NMRC), the Uttar Pradesh government and the Union ministry of housing and urban affairs have signed a memorandum of understanding (MoU) for the 30km Noida-Greater Metro link. The Centre and the UP government have agreed to have a 50:50 stake in the NMRC. Now, the Centre will release INR 970 crs for the 30 km Metro project, which has a budget of INR 5,503 crs. This is a big step as the Centre’s fund will give a much-needed boost to this ambitious project Source: Hindustan times.
NHAI plans to upgrade 6,800 km roads in Karnataka
According to Ministry of Road Transport and Highways, the Centre plans to invest INR 1.44 lakh crs in the next two years to improve the highway network in Karnataka over the next two years. NHAI has agreed to implement over 150 works to upgrade 6,800 km of roads to the standard of National Highways. Road minister Nitin Gadkari announced that he will lay the foundation stone for over 500 km of highways projects worth over INR 3,700 crs. in the districts of Shimoga, Bellary, Bidar, Bijapur and Hubli in Karnataka. The minister also announced that while there are 105 ongoing projects worth INR 19,638 crs, another 19 projects of length 230 km and costing INR 1,676 crs will soon be awarded Source: The New Indian Express.
Land survey to begin for Thiruvananthapuram airport development
The land survey for acquisition of 18 acres for the development of Trivandrum International Airport will begin soon as the affected locals have consented for the same. As the social impact assessment (SIA) study in the 18 acres in Vallakadavu and Vayyamoola areas was completed, district collector K Vasuki visited the area and requested the residents in person to permit the land survey. The acquisition of 18 acres will fast pedal the development of existing airport with facilities for more flights to operate Source: ET Realty
INR 300 crs spent so far on construction of two Pune Metro corridors
Around INR 300 crs has been spent on the ongoing work on the two Metro corridors in Pune and most of the expenses have been on civil work. The Maharashtra Metro Rail Corporation Limited (MahaMetro) announced that the project was not facing any financial crunch at present. It has received budgetary allocation of INR 582 crs for the current fiscal. The corporation has sought allotment of INR 750 crs and for the next financial year (2018-19). The Union government’s department of economic affairs had posed the Pune Metro project to European Investment Bank and AFD France. The talks with both the institutions are under way and expected to finalized by June, 2017 Source: ET Realty
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