Newly-constructed national highway stretches should be opened only after road safety audits have been conducted and the road transport ministry will frame a policy for implementation of smooth transition in lane configuration with adequate signage and warnings to reduce accidents. These are some of the directions issued to the road transport ministry for compliance at … Read more
The engineering procurement and construction (EPC) company that went into liquidation, is set to be acquired by Hyderabad businessman Ponguleti Prasad Reddy along with consortium members for Rs 1200 crore. This would imply a recovery of 8% for lenders. IVRCL was pushed into liquidation after lenders rejected two separate resolution plans submitted by Shankar Sharma … Read more
The Supreme Court has again ruled in favor of Delhi Airport Metro Express Pvt Ltd (DAMEPL) whereby it has upheld the 2017 arbitral award of Rs 4,600 crore payable by Delhi Metro Rail Corporation (DMRC) to DAMEPL. Key points to note – DAMEPL is a consortium between Reliance Infrastructure Limited and Construcciones y Auxillar de … Read more
GMR is announced as the winning bidder for development and operation of Kualanamu International Airport in Medan, Indonesia. Key points to note – Contract has been won by GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited. GMR will enter into 49:51 partnership with Angkasa Pura 2 (AP2) for this project. AP2 is a … Read more
The flyover was opened on August 1, 2021 after a significant delay (started in 2016 and was originally scheduled to complete by January 2019). These kind of delays are quite expected and accepted in general due to varied reasons. Delay in permissions, timely audits, modifications, cost escalations and payment delays being some of them. It … Read more