Construction Infrastructure
K-rail gets approval to generate ₹33,700-cr from global financers
The National Institution for Transformation of India (NITI Aayog), the Department of Expenditure of the Union Ministry of Finance and the Ministry of Railways have approved the Kerala Rail Development Corporation Limited (K-Rail) to raise funds from multilateral agencies and bilateral to 529.45-. Km Silverline Semi-High Speed Train from Kochuveli to Kasargod.
With this, K-Rail Asian Development Bank (ADB), the Asian Infrastructure Investment Bank, a joint venture between the state and the railways, can apply for a loan of Rs 33,700 crore under the guidelines for cost-sharing rail projects. AIIB), German Development Bank (KfW) and Japan International Cooperation Agency (JICA).
All funding agencies except KfW had informally confirmed their willingness to loan to Silverline and ADB raised US $ 4.5 billion and US $ 499.50 million (₹ 7,533 crores), AIIB’s two-stage loan of US $ 500. Offers to provide. Million and JICA US $ 2.5 billion (₹ 18,892 crores).
KfW is expected to provide a loan of US $ 460 million (₹ 3,476 crores) for the ambitious project at an estimated cost of ₹ 63,941 crores based on current estimates.
News Source: NBM&CW
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
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