Highways Financial News

Louisiana highway, a combination of wildfire smoke and dense fog led to a 158-car pileup on Interstate 55. This catastrophic event has raised concerns about what meteorologists call "super fog," a phenomenon that severely impairs visibility to less than 10 feet. At least seven people died, and more than 25 others were injured in the accident, which involved multiple cars catching fire and a truck carrying a hazardous liquid. The National Weather Service has classified this kind of fog as «super fog,» a term gaining notoriety for its potential to cause massive pileups and other disasters.

The jury trial, in a California state court, featured testimony from one Tesla employee about Autopilot that the company repeatedly asked to be kept hidden from the public. A judge refused.

Didsbury RCMP are at the scene of a crash involving a school bus that had children on board. Didsbury RCMP say an officer came across a school bus rollover on Highway 2A at Township Road 320 at around 10:20 a.m. Monday.

Gayatri Projects have received a single bid for the debt-laden engineering, procurement, and construction (EPC) company from Dubai-based private equity fund Mark AB Capital Investment LLC, offering them about 10% recovery on their total dues of ₹6,000 crore. The bankers had received two expressions of interest (EOIs) earlier this year but the other joint bid from two individuals did not result in a serious offer, people familiar with the process said. Mark AB's offer includes a small upfront payment, with the remaining payment differed after two years. «The offer includes a total of ₹50 crore upfront cash, ₹50 crore capital infusion, and the remaining ₹500 crore to be paid after two years,» said a person aware of the details. «Mark has said that it will partner with an asset reconstruction company to assign the debt and pay recoveries from it after two years.» Last week, Gayatri Projects' resolution professional Sai Ramesh Kanuparthi successfully petitioned the National Company Law Tribunal (NCLT) to expand the resolution timeline, which has been extended by 60 days. Bankers are expected to close the deal by December. «Creditors will look to negotiate a better deal including some commitment for covering the bank guarantees (BGs) issued to the company,» said a person aware of the details.

Why JP Morgan’s Inclusion of Indian Bonds in the JP Morgan Government Bond Index – Emerging Markets Signifies a Mix of Positive News for the Indian Economy and a Growing Demand for Enhanced Fiscal Transparency and Accountability?

road projects on the build-operate-transfer (BOT) model by March 2024, giving a renewed push to the public-private partnership in road construction, road transport and highways minister Nitin Gadkari has said. This shift from the existing emphasis on engineering, procurement, and contract (EPC) model will drive private players to build better quality roads because they have to maintain them for 15 years, Gadkari told Yogima Seth Sharma, Deepshikha Sikarwar and Vinay Pandey in an interview. Edited excerpts: How has the highways sector performed in the current fiscal? Our budgetary allocation for current fiscal is ₹2.7 lakh crore and we expect to use all of it.

Maharashtra Chief Minister Eknath Shinde on Sunday expressed condolences over the death of two people from the Maratha community and appealed to the activists not to commit suicide. «Today I want to appeal that two people from the Maratha community committed suicide, I'm also from the Maratha community and the son of a farmer, I express condolences to those who have committed suicide. Please think about your families before taking such steps,» CM Shinde said. He further said that his government stands with the Maratha community and is committed to providing reservations to the Maratha community, adding that giving reservations is the government's responsibility. «It is the government's responsibility to give reservation to the Maratha community, and we are working towards it.

ISRO) successfully launched the Gaganyaan's TV-D1 test flight on Saturday, bringing the nation one step closer to its first human spaceflight mission. Prime Minister Narendra Modi conveyed his congratulations to the dedicated scientists at ISRO, expressing his delight at this achievement. He shared, «This launch takes us one step closer to realising India's first human space flight program, Gaganyaan. My best wishes to our scientists at ISRO.» Union Home Minister Amit Shah lauded the achievement, emphasising India's readiness to take significant strides in the space sector. He remarked, «After the successful launch of the Chandrayaan-3, our nation is ready to take its next giant stride in the realm of space. Today, the ISRO launched Gaganyaan's TV-D1 Test Flight into space, scripting another remarkable space odyssey.» «My heartfelt congratulations to our scientists and our citizens on this momentous occasion of success and fulfilment,» added Amit Shah. Similarly, Union Minister of Road Transport & Highways, Nitin Gadkari, praised the historic event, stating, «Congratulations!!! In a momentous step towards the stars, the TV D1 Test Flight for Mission #Gaganyaan has taken off. This historic event reflects the unyielding dedication of our remarkable scientists.»

India Construction Festival (2023) - comprising 13th India Roads Conference, 11th Equipment India Awards and 21st Construction World Global Awards - received a big thumbs up from more than 200 industry leaders from the leading construction and infrastructure companies who celebrated the success of the industry and recognised its contribution to the nation building. Held recently at Shangri La Hotel in New Delhi and hosted by infrastructure think-tank FIRST Construction Council, India Construction Festival 2023 honoured over 70 companies in the infrastructure and construction equipment sectors with awards under various categories. While AAV Ranga Raju, Managing Director, NCC Ltd, was honoured with the prestigious Construction World Person of the Year (Private Sector) award, Dimitrov Krishnan, Managing Director, Volvo Construction Equipment India, was recognised as the “Equipment India Person of the Year 2023" for their remarkable achievements during 2022-23. Setting context for ICF 2023, Pratap Padode, Founder and President, FIRST Construction Council, said, "Government infrastructure investments as measured by central government capex have gone up 8 times over FY14 to FY24.

ANI reported. The bus was travelling from Ahmedabad to Belgaum in Karnataka when the incident occurred, as per authorities.

Mankind Pharma entered the sector with the Courtyard by Marriott Aravali Resort, and added The Westin Rishikesh Resort & Spa earlier this year. Kaushalya Logistics is venturing into hospitality by building a 200-room Holiday Inn hotel on Delhi-Mumbai highway in Udaipur.

police check on the National Highway at Gadwal led to the interception of a truck carrying an astonishing Rs 750 crore in cash. As per a TOI report, the incident took place on Tuesday night when the truck was stopped by police on election duty.

The leaders of Russia and China have met in Beijing and called for close foreign policy coordination

Interstate 25 in southern Colorado is expected to reopen Thursday, four days after the main north-south route through the state was shut down when a train derailment collapsed a railroad bridge onto the highway and killed a truck driver

Mumbai on Cyclone Tej alert! IMD warns of cyclonic storm in Arabian Sea. When is it expected to hit? Additional protests may occur in the future if the demands remain unmet. Passengers are advised to seek alternative routes to circumvent affected areas.

NIIF) is looking to sell its maiden portfolio of five road projects, worth around Rs 10,000 crore ($1.2 billion) on an enterprise value basis, sources aware of the development told ET. NIIF has appointed investment bank JP Morgan to run a sale process for the roads portfolio, the sources said. Formal conversations are yet to begin, added the sources mentioned above on the condition of anonymity as these discussions are still in private domain.

WASHINGTON (Reuters) — Ford Motor (NYSE:F) said on Wednesday it is recalling 35,000 Mustang Mach-E electric vehicles because high voltage battery main contactors may overheat resulting in a loss of driving power.

₹2.37 trillion on the second day of the Global Maritime India Summit (GMIS). Around 70 memorandums of understanding (MoUs) were inked across diverse maritime sectors, including port development, green hydrogen & ammonia, port-led growth, business & commerce, shipbuilding, knowledge exchange, and port connectivity.

A new report says that crash and fatality rates among drivers under 21 have fallen dramatically in the U.S. during the past 20 years but young drivers are still the riskiest group behind the wheel

The National Highway Traffic Safety Administration is investigating General Motors’ Cruise autonomous vehicle division after receiving reports of incidents where vehicles may not have used proper caution around pedestrians in roadways

China is hosting its third international forum centered around President Xi Jinping’s signature policy, the Belt and Road Initiative, which over the past 10 years has built infrastructure across continents, burdening some smaller countries with debt