Highways Financial News

Electric vehicle owners who live in the path of hurricanes should be wary of the risk their cars could catch fire if they are inundated by saltwater as the powerful storm moves ashore

Mumbai Metropolitan Region Development Authority (MMRDA) has successfully secured a loan of Rs 31,673.79 crores from the Power Finance Corporation (PFC). According to MMRDA, this loan will fund nine key infrastructure projects that promise to transform the Mumbai Metropolitan Region's (MMR) transportation network, enhancing connectivity, boosting economic growth, and improving the overall quality of life for its citizens. A formal agreement was signed on Wednesday between MMRDA and PFC, marking the financial closure of several critical infrastructure initiatives.

Subscribe to enjoy similar stories. Alternative energy is exploding—literally. Lithium battery fires are breaking out on highways and in factories, home garages and storage rooms.

Subscribe to enjoy similar stories. For many Americans, the drive to and from work requires enduring slow-moving, soul-draining traffic. The commute remains one of the top gripes that workers have about returning to offices.

single litigant" for the courts and it should come with a unified stand after taking on board all the departments concerned, the Supreme Court has said. The observation by a bench headed by Justice BR Gavai came while noting that there appeared to be some inter-se disputes between the forest and revenue departments of the Mizoram government in a matter pertaining to a May 1965 notification. The apex court noted a single judge of the Gauhati High Court's Aizawl bench, in January 2021, held the notification issued in the Assam Gazette dated May 19, 1965, «notifying the order passed by the chief executive officer, Mizo District Council, declaring forests located within half a mile on either side of the river Tuirial and 15 other rivers to be the Council Reserved Forest, is not sustainable in law». It said the state had preferred an appeal before a division bench of the high court but on November 9, 2022, it sought liberty to withdraw the appeal with the liberty to file a fresh one, if required.

Four Greenpeace activists who were arrested for scaling the country estate of former British Prime Minister Rishi Sunak last year to protest his oil and gas drilling expansion plans have been cleared of criminal charges

Motel 6, the budget hotel chain that has lined U.S. highways for decades, will be sold to Oyo, an India-based hotel operator, the companies announced Friday. Blackstone, the private equity giant and the owner of Motel 6's parent company, said the transaction would be an all-cash deal for $525 million. The deal is expected to close before the end of the year, and would include the chain's offshoot hotel brand, Studio 6. Oyo expanded into the United States in 2019, and has recently ramped up efforts to expand further. It currently operates more than 300 hotels domestically. The company, which specializes in budget hotels and proudly describes itself as «a startup,» had received a large investment from SoftBank. But some troubling incidents in India in recent years raised questions about some of its business practices.

Highway Infrastructure Trust for Rs 6,661 crore. TOT Bundle-16 is a 251 km long stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana, the ministry of road transport and highways said. “The concession period of TOT bundle is for 20 years in which the concessionaire will be required to maintain and operate the stretch. In lieu of this, concessionaire will collect and retain user fees for the stretch in accordance with prescribed fee rates under NH Fee Rules,” it added. According to the ministry, the TOT model has been developed to encourage private participation in the highway sector.

NHAI has awarded the 251-km-long stretch of the Hyderabad-Nagpur corridor under the TOT bundle model to Highway Infrastructure Trust for Rs 6,661 crore, an official release said on Friday. The financial bids for TOT Bundle-16 were opened on September 18, 2024, for 251 km long stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana, the release said. The project has been «awarded to Highway Infrastructure Trust for Rs 6,661 crores», its said. The concession period of TOT bundle is for 20 years in which Concessionaire will be required to maintain and operate the stretch.

General Motors is recalling more than 449,000 of its SUVs and pickup trucks because the electronic brake control module software may fail to display a warning light when a loss of brake fluid takes place

Adani Group has emerged as frontrunner in the race to acquire the promoter’s 46.64% stake in ITD Cementation India to bolster its in-house civil engineering capabilities, said people aware of the matter. At current market value, a successful deal would be pegged at 5,888.57 crore ($700 million), inclusive of a fully subscribed open offer that will follow a promoter stake purchase. The infrastructure conglomerate led by Gautam Adani is ramping up its expansive portfolio spanning airports, highways, ports, power plants and real estate projects. Both sides came to an agreement earlier this week and a formal announcement is due soon, said one of the persons.

Officials say human remains have been found inside an SUV that authorities say hit an aboveground valve on a pipeline in suburban Houston, causing a fire that has burned for four days

logistics cost will come down to single-digit within the next five years as the country builds a network of world-class highways and expressways, road transport and highways minister Nitin Gadkari said on Thursday. Addressing the 'Deloitte Government Summit', Gadkari said the ministry is constructing several highways and expressways which will help reduce India's logistics cost. «I am confident that within five years our logistics cost will be in single-digit,» he said. The reduction in logistics costs is crucial to enhance India's economic efficiency and global competitiveness.

National Green Tribunal (NGT) has sought a reply from the Union Ministry of Road Transport and Highways (MoRTH), Bureau of Indian Standards (BIS), and others in a matter regarding the use of cancer-causing chemicals in cars. The tribunal was hearing a matter where it had taken suo motu (on its own) cognisance of a media report regarding the use of two flame retardant chemicals inside cars — - TDCIPP and TCEP — - which were carcinogenic. In an order passed last week, a bench of NGT Chairperson Justice Prakash Shrivastava noted the reply of the Central Pollution Control Board (CPCB) that it did not have the facilities to test whether these substances were carcinogenic. The bench, also comprising judicial member Justice Sudhir Agarwal and expert member A Senthil Vel, said the Indian Council of Medical Research (ICMR) had filed a report dated September 10 where it did not take a «definite stand» on whether these chemicals were carcinogenic.

Vehicle recalls are an important part of automotive safety

Road Transport and Highways Minister Nitin Gadkari on Tuesday came down heavily on agencies and contractors over ill-maintained roads, saying good operators would be awarded but bad ones would be «driven out of the system». «We will not spare you. We'll ensure that bank guarantees of those doing bad work are forfeited and after this, we will blacklist you, not allow you to apply for new tenders,» the minister said. His warning came after he noticed the bad maintenance of the Eastern Peripheral Expressway that he took to reach Ghaziabad to inaugurate a tree plantation drive 'Ek Ped Maa Ke Naam' under the 'Swachhata Hi Seva 2024 — Swabhav Swachhata — Sanskar Swachhata' campaign. During his address, the minister highlighted the strides in development made under the government, the ministry and the National Highway Authority of India, citing data, expenditures and the future vision for the sector.

National Green Tribunal (NGT) by the Central Pollution Control Board (CPCB) has revealed that some flame-retardant chemicals found in car cabin air, which may be carcinogenic, are not listed under the Manufacture, Storage, and Import of Hazardous Chemicals Rules 1989. This report highlights a potential regulatory gap, as these rules were issued by the Union Ministry of Environment. The CPCB’s report, dated September 10, 2024, noted that no testing had been conducted on these chemicals and recommended that the tribunal consult agencies overseeing automobile safety standards, which are regulated by the Ministry of Road Transport and Highways. This issue gained attention in June when the NGT’s principal bench, led by Justice Prakash Shrivastava, took suo motu notice of a media report indicating the presence of «carcinogenic flame retardants» in cars. The claim, which is being investigated by the US National Toxicology Program, prompted the NGT to request a report from CPCB on the matter.

capex loans to states so far out of the total ₹1.5 lakh crore allocated for FY25. «So far, ₹46,000 crore has been approved for sanction under the capex loan to states, out of which ₹25,000 crore has been released,» a senior government official told ET. Of the ₹95,000 crore conditional loan, ₹25,000 crore is linked to the capex performance of states. States will get half of the corresponding share only after reporting capex growth of 10% or more in FY24, and the remaining 50% after achieving a 10% growth in capex this fiscal. «This will provide an incentive for states to increase their capex,» the official said.

14-lane road near the Atal Setu sea bridge that will connect to Pune via a ring road will bring down traffic on Mumbai-Pune Expressway by 50 per cent, Union Minister Nitin Gadkari said on Sunday. The Union Minister for Road Transport and Highways was talking about road plans for Mumbai-Bengaluru at an alumni event organised by COEP Technological University on the occasion of Engineer's Day. «There is huge traffic on Mumbai-Pune Expressway. A 14-lane road will be built near Atal Setu, which will further connect to Pune via a ring road and then onwards to Bengaluru. This road will bring down traffic on Mumbai-Pune Expressway by 50 per cent,» he said.

HG Infra Engineering shares jumped over 5% to Rs 1,579 in Friday's intraday trade on BSE after the company received an order worth Rs 716 crore from Central Railway. The contract involves constructing a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, covering approximately 49.45 km. The project, to be executed under the engineering, procurement, and construction (EPC) model, has a timeline of 30 months.

Subscribe to enjoy similar stories. Not long ago America’s main concern with sovereign-wealth funds was how to regulate these large pools of money controlled by foreign governments. Now, seemingly overnight, the hot new idea in Washington, DC, is that America should join the club.