The Narendra Modi government has decided to infuse a massive Rs 6.92 lakh crore over “the next five years” to add 83,677 km to the country’s 1.1-lakh-km highway network. This entails the pace of constructing roads rising to 46 km per day from 22.5 km in 2016-17. According to a plan approved by the Union Cabinet last Tuesday, the 34,800-km Bharatmala project will see funding to the tune of Rs 5.35 lakh crore. As far as resources are concerned, Rs 2.09 lakh crore would come from market borrowings, Rs 1.06 lakh crore as private investments and the balance from the Central Road Fund (CRF), toll receipts, and proceeds from the monetisation of state-funded highways. The balance work of 48,887 km under schemes other than Bharatmala would be undertaken by the National Highways Authority of India and the ministry of road transport and highways, an official statement said.
331 infra projects see cost overrun of Rs 1.72 lakh crore
As many as 331 infrastructure projects, each worth Rs 150 crore or above, have seen a cost overrun of Rs 1.72 lakh crore because of various reasons including delays, according to a flash report of the Ministry of Statistics and Programme Implementation for July this year. The total original cost of implementing 1,257 projects was Rs 15,76,903.56 crore and their anticipated completion cost is likely to be Rs 17,49,274.62 crore, a cost overrun of Rs 1,72,371.06 crore (10.93% of the original), the report stated. The expenditure incurred on these projects till July is Rs 6,80,016.96 crore, which is 38.87% of the anticipated cost. The 1,257 projects in question include 331 that reported cost overrun and 274, time escalation.
KEC International wins orders worth Rs 1,931 cr
Engineering, procurement and construction major KEC International has won new orders worth Rs 1,931 crore, the company said in a BSE filing last week. Its transmission and distribution business had won orders worth Rs 1,756 crore across India, SAARC, the Middle East, Africa and the Americas. The cable business secured orders worth Rs 112 crore while the railways and solar businesses received orders worth Rs 54 crore and Rs 9 crore, respectively, the company added.