Highways Financial News

BENGALURU:Silicon Valley-based venture capital (VC) firm General Catalyst has acquired New Delhi-based early-stage investor Venture Highway, with plans to invest $500 million-1 billion in India.The new entity will be called General Catalyst India and will focus on early- and growth-stage investments in the country. “The combined capabilities of the two firms will allow us to be much more hands-on and effective going forward in India.

Public Sector Enterprises (PSEs). In the 2021-22 budget, the government announced plans to monetize potential core assets of the central government and PSEs. The National Monetisation Pipeline (NMP), developed by Niti Aayog in consultation with concerned ministries, aims to monetize assets over a four-year period starting from FY22, with assets tottaling Rs 6 lakh crore earmarked for monetization.

monetised assets worth Rs 1.56 lakh crore in 2023-24 as against the target of Rs 1.8 lakh crore under the National Monetisation Pipeline (NMP), taking the total monetisation to Rs 3.85 lakh crore in three years since the launch of the programme in 2020-21, NITI Aayog said on Wednesday. Under the NMP, the government had envisaged monetising assets worth Rs 6 lakh crore during the four year period from 2021-22 to 2024-25. Cumulative monetisation in 2021-22 and 2022-23 stood at Rs 2.30 lakh crore as against the target of Rs 2.5 lakh crore. According to the Aayog, the ministry of road transport and highways and the ministry of coal were the top two achievers with a total monetisation receipts of Rs 97,000 crore.

Union Cabinet on Wednesday approved India’s 13th Major Port worth Rs 76,220 crores at Vadhavan in Maharashtra. The crucial project got a nod during the first meeting of the Union Cabinet after ministers were assigned portfolios last week. Speaking to ET, Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal said, “This is the first major infrastructure project of the third term of Prime Minister Narendra Modi as it ends the hiatus of major port development of more than two decades since then PM Atal Bihari Vajpayee inaugurated Kamarajar port at Ennore in 2001.” Major Ports are those which are governed by the centre. They comprise roughly 61% of India’s entire cargo 2604.99 million tonne per annum (MTPA) handling capacity. The remaining is with non-major ports that are under the administrative control of state governments.

National Highways Authority of India (NHAI) plans to offer 15 road projects worth Rs 44,000 crore, covering 900 km, for bids under the build-operate-transfer (BOT) mode in FY25. If successful, this could mark the comeback of public-private-partnership projects in highways. The government earlier this year amended the model concession agreement to make it attractive for the private sector to invest in road construction. The 15 projects for this fiscal year are a part of the government’s plan to offer 53 projects worth over `. 2.2 lakh crore, covering route length of 5,200 km, under BOT mode over the next three to five years. Capitalising on Interest:

bio-bitumen from biomass or agricultural waste, a move that would help reduce imports of the material used for asphalting of roads while also addressing the persistent issue of stubble burning. India currently imports about half of its annual requirement of bitumen and the target is to replace imports with bio-bitumen over the next 10 years, a senior government official told ET. «Based on the success of the pilot study, we hope to kick-start production of bio-bitumen on a large scale by the end of 2025,» the official added. The Central Road Research Institute (CRRI) will soon undertake a pilot study with the Indian Institute of Petroleum, Dehradun on a 1-km road stretch which will be built using bio-bitumen. If successful, the technology will be commercialised and transferred to a private entity or public sector enterprises for large-scale production of bio-bitumen, to be used in the construction of national highways.

NHAI will begin work on the Rs 4,000-crore Chattergala tunnel in Jammu and Kashmir at the earliest, Union Minister of Road Transport and Highways Nitin Gadkari said on Monday. Gadkari on Monday chaired a review meeting that was also attended by Union Minister of State in the Prime Minister's Office (PMO) Jitendra Singh. «The prestigious Chhatergala tunnel work, costing about Rs 4,000 crore, will be executed by the National Highways Authority of India (NHAI) and the underpasses on the Kathua express corridor section, wherever demanded by the public, will be undertaken at the earliest,» an official spokesperson said after the review meeting. During the meeting, Singh thanked Gadkari for accepting most of the suggestions and proposals put across by him.

tempo traveller accident in Uttarakhand's Rudraprayag succumbed to his injuries, taking the toll to 15, while the condition of four of the 11 injured is still critical, officials said on Sunday. A person who was brought to AIIMS, Rishikesh by air ambulance after the accident on Saturday died late at night, trauma surgeon Ruby Kataria said. A tempo traveller carrying tourists skidded off the Badrinath national highway, rolled 200 metres down a gorge and fell into Alaknanda river, killing or injuring all 26 people present in it. Ten people died on the spot near Raitoli village, about four kilometres from Rudraprayag district headquarters. Kataria said the patient was brought to the hospital in a «brain dead» condition after which he was put on life support but he could not be saved.

Mumbai-Ahmedabad NH traffic chaos: Viral video shows vehicles crawling on highway, netizens call it ‘peak corruption’NGC 2005 is a globular cluster located in the universe. According to theories presented by most of the scientists, such globular clusters are evolved via mergers of galaxies.Also Read: Viral video: Woman dances to Shah Rukh Khan-Deepika Padukone song at airport; netizens ask Instagram to ’ban such reels’NGC 2005 can be traced about 750 light-years from the heart of the Large Magellanic Cloud (LMC), which is the Milky Way’s largest satellite galaxy some 162,000 light-years from Earth.Globular clusters are densely packed groups of stars that can hold tens of thousands or millions of stars.

infrastructure projects under the PM Gati Shakti National Master Plan (NMP), a national master plan for multi-modal connectivity, that brings 16 ministries, including railways and roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects. Chaired by Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Rajeev Singh Thakur, the meeting was held in New Delhi on June 12, 2024. These infrastructure projects belong to the Ministry of Road Transport and Highways (MoRTH), the Ministry of Railways (MoR), and the Ministry of Housing and Urban Affairs (MoHUA).

tempo traveller in Uttarakhand's Rudraprayag district fell into a gorge on Saturday. As many as eight are feared dead and at least seven have been injured in the accident. The vehicle was carrying 23 people, reported PTI. The accident happened near the Alakananda River on the Rishikesh-Badrinath Highway.

rainfall triggered massive landslides across North Sikkim. The toll in the state from the recent spate of rainfall and landslides is now nine, with three deaths reported on Monday. Around 1,500 tourists are stranded in tourism hotspots like Lachung, Yumthang and Dikchu. Vast areas of Mangan district, which covers the whole of north Sikkim, are.

A Tesla apparently operating on one of the company’s automated driving systems crashed into a parked police vehicle Thursday near Los Angeles, narrowly missing an officer who was managing traffic at another crash

National Highways Authority of India (NHAI) has scrapped the requirement for developing wayside amenities along new highways and expressways by road contractors and concessionaires. Instead, NHAI will seek separate bids from companies for developing such amenities. The step is aimed at attracting global expertise for creating wayside amenities (WSAs) in the country with a stronger focus on design and product innovations to boost return on investment while scaling up the experience of highway users. Under the existing provision, a highway contractor or concessionaire is responsible for developing WSAs, placing an additional responsibility on contractors to build, run and maintain such facilities.

Waymo is recalling more than 600 self-driving vehicles after one of them struck a telephone pole in Arizona

Looking for a fuel-sipping car

Two police officers involved in a wrong-way fatal pursuit on Highway 401 this spring have not agreed to be interviewed by Ontario’s police watchdog.

International Road Federation (IRF), a Geneva-based global road safety body, has urged the Goods & Service Tax (GST) council and the ministry of finance to reduce GST on helmets from 18% to nil to make them affordable to the masses and road accident fatalities to two-wheeler riders.

The death of a rare white grizzly bear in Yoho National Park, just two days after her cubs died, has sent a rippling sadness across the wildlife community.

Nitin Gadkari on Wednesday took charge as the Minister of Road Transport and Highways. In a post on X, formerly known as Twitter, Gadkari conveyed his heartfelt gratitude to Prime Minister Narendra Modi for reassigning him this role in Modi 3.0 and remarked that India will be equipped with world-class, modern infrastructure at an accelerated pace under Modi Ji's visionary leadership.

NHAI) will monetise road assets worth Rs 15,000 – 20,000 crore in the current fiscal year through its infrastructure investment trust the National Highways Infra Trust (NHIT), it said on Tuesday.