Highways Financial News

“No airport in India has a toll road before it. Why this discrimination against Bengaluru? Toll should be for the Bellary Road after the airport,” Pai wrote on X, tagging Union Minister of Road Transport and Highways, Nitin Gadkari. In a Rajya Sabha response regarding fee collections on national highways, Gadkari revealed that the Devanahalli toll plaza collected Rs 308 crore in revenue during the financial year 2023-24.

Nitin Gadkari on Wednesday said the logistics cost in India will come down to 9 per cent within two years. Speaking during bauma Conexpo India, the Road Transport and Highways Minister said that «presently our logistics cost is 14-16 per cent… I assure you that within two years… our logistics cost will be 9 per cent. So we will be more competitive in the international market.» In China, the logistics cost is 8 per cent and in the US and European countries it is 12 per cent, the minister said. The minister further said the automobile industry is one of the important industries that is giving maximum revenue as part of GST to the state governments and the Centre.

Subscribe to enjoy similar stories. DAMASCUS, Syria—Rebel fighters and civilians strolled through the grounds of Bashar al-Assad’s presidential palace on Tuesday, stepping on shredded posters of the former dictator who had fled to Russia days earlier. In Assad’s abandoned office, his desk and floor were littered with books and papers: a history of the Russian military, a map of northeastern Syria, a biography of himself.

Truck drivers have blocked some major highways in central Mexico to protest the fact the government hasn't paid them for work they did on a tourist train line

Farmers under the banner of the Samyukta Kisan Morcha (non-political) and Kisan Mazdoor Morcha have been camping at Shambhu and Khanauri border points between Punjab and Haryana since February 13 after their march to Delhi was stopped by security forces. The plea, filed in the apex court by a social activist hailing from Punjab, also sought directions to the Centre and others to remove restrictions on farmers' protests and to ensure that national highways and railway tracks are not blocked by the agitating farmers.

Ceat’s acquisition of Michelin's off highway tyre (OHT) brand Camso will help the RPG Group company boost margins by raising the share of these more-profitable tyres in the overall mix to 25-30% from the current 15%, Anant Goenka, vice chairman, RPG Enterprises told ET. Ceat signed a definitive agreement with the French tyre maker for acquiring the Camso brand for $225 million, the company said in a statement on Friday. OHT includes agriculture tyres, harvester tyres, power sports tracks and material handling tyres. “The acquisition will be margin accretive for us. The margins of this business are higher than the CEAT margins,” said Goenka. The entire category (OHT) margins are fairly high—at 15-20% compared to 12% for regular tyres, especially those that are operating or have the manufacturing in South Asia, he said.

The official alert, which came with a loud siren-like sound, warned people to stay indoors and was sent to every compatible mobile phone in the areas impacted by Storm Darragh. On Friday the UK's weather forecasters, the Met Office, issued a red weather warning — the most serious type. Thousands of homes, many in Northern Ireland, Wales and western England, were left without power overnight.

Subscribe to enjoy similar stories. India's highway toll collection growth is slowing and may fall short of the projected ₹70,000 crore in the current financial year, according to two persons aware of the development, mirroring the slowdown in the economy. While new highway alignments and a rise in the number of toll stations may take this income to around ₹60,000 crore in FY25, but the actual growth will ease to a single digit against more than 40% and 16% seen in FY23 and FY24, respectively, the first among the two persons quoted said on the condition of anonymity.

Honda is recalling nearly 206,000 SUVs in the U.S. because the fuel filler neck can separate from the filler pipe in a crash, allowing gasoline to leak and increasing the risk of a fire

International North South Transportation Corridor (INSTC) that provides India with the shortest route to trade with Russia and Europe. The Armenian Parliament on Wednesday approved a $200 million loan from the Eurasian Stabilization and Development Fund to build an 8.6 km Kajaran tunnel in Syunik (bordering Iran) as part of efforts to join INSTC, ET has learnt. Armenia is also in talks to join Iran’s Chabahar Port as it seeks access to India and other Asian nations. The South Caucasian country is also hoping for early linkages between the INSTC and the Chabahar Port for seamless connectivity.

General Motors is adding over 132,000 heavy-duty pickups in the U.S. to a previous recall for tailgate release switches that can short circuit and open the gates while the trucks are in park

Subscribe to enjoy similar stories. Rosneft-backed Nayara Energy Ltd is planning to increase the number of its fuel retail outlets with a focus on rural areas and new highways, even as it explores ways to expand its compressed natural gas (CNG) business, its chief marketing officer Madhur Taneja said. Currently, the refining and oil-marketing company has a network of 6,500 outlets across Gujarat, Rajasthan, Maharashtra, Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Odisha and Telangana.

Arunachal Frontier Highway connecting 12 districts of the state along the Line of Actual Control (LAC) on the India-China international border, a top official said. The ambitious project to be built at an estimated cost of Rs 40,000 crore is seen as a move to counter China's aggression in Arunachal Pradesh, besides contributing to the socio-economic development of the border state. The highway is being constructed along the 'India-Tibet-China-Myanmar' border and the road project will be as close as 20 km from the LAC and international borders. It will start from Bomdila and pass through Nafra, Huri and Monigong towns, which are closer to the LAC or the McMahon Line, and conclude in Vijaynagar near the India-Myanmar border.

Congress accused the Centre on Wednesday of collecting more than Rs 36 lakh crore from people's pockets through petroleum products in the last five years. Congress president Mallikarjun Kharge alleged that instead of increasing funds for welfare schemes, the Narendra Modi government has continuously reduced allocation by «manipulating data and tampering with facts». «By imposing excessive taxes, duties and cess on petrol and diesel, the Modi government has looted lakhs and crores of rupees from the common people. According to the answer to a question asked in Parliament, the government has collected more than Rs 36 lakh crore from people's pockets in the last 5 years,» Kharge said in a post on X. «This government is an expert in closing down old schemes, sometimes changing the names of Congress schemes and calling them new and sometimes trying to garner accolades by changing the names of its own schemes repeatedly.

Ashoka Buildcon shares are in focus today after the firm received a Letter of Award (LOA) for a Hybrid Annuity Model (HAM) road project in West Bengal from the National Highways Authority of India (NHAI). The accepted bid project cost is Rs 1,391 crore. According to the company's stock exchange filing on Monday, the project involves the development of a four-lane economic corridor from Bowaichandi to the Guskara-Katwa Road Section (Km 89.814 to Km 133.000) of NH 116A (Package-3) in West Bengal, under the HAM.

Airports and highways are expected to be jam-packed during Thanksgiving week, a holiday period likely to end with another record day for air travel in the United States

The Thanksgiving travel rush is expected to be bigger than ever this year

Infrastructure company PNC Infratech on Friday said it has received approval from NHAI to transfer a 100 per cent stake held by it in its three subsidiaries (SPVs) for Uttar Pradesh road projects to Highways Infrastructure Trust. The company, in a regulatory filing, said the three highway projects are a part of the statutory process pursuant to the Rs 9,005 crore deal between PNC Infratech, PNC Infra Holdings (a subsidiary of PNC Infratech), and Highways Infrastructure Trust (HIT), an InvIT controlled by KKR & Co Inc, for 12 road assets. The three subsidiaries/SPVs, which got approval from the National Highways Authority of India (NHAI), are PNC Bithur Kanpur Highways Private Ltd, PNC Gomti Highways Private Ltd and PNC Aligarh Highways Private Ltd. The deal, signed in January 2024, involves the divestment of twelve road assets owned by PNC Infratech and PNC Infra Holdings for an enterprise value of Rs 9,005 crore.

More than half a million Americans and 100,000 British Columbia residents were without power on Wednesday morning as they grappled with a weather phenomenon known as a “bomb cyclone.”

Tens of thousands of British Columbians were without power on Wednesday after a bomb cyclone brought strong winds overnight.