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LIC offers Rs 1.25L-cr line of credit to fund projects: Nitin Gadkari

Sunday, July 21, 2019, 1:37 PM

As part of innovative modes of financing to meet India's huge infrastructure appetite, insurance giant LIC has agreed to offer Rs.1.25 lakh crore line of credit by 2024, to fund highway projects, Union Minister Nitin Gadkari said. The Minister said that the line of credit will be used to fund the ambitious Bharatmala project, the revised cost of which has reached Rs.8.41 lakh crore.
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345 infra projects show cost overruns of Rs 3.28 lakh crore

Sunday, July 21, 2019, 11:58 AM

As many as 345 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.28 lakh crore owing to delays and other reasons, a report said. According to the report, the expenditure incurred on these projects till April 2019 is Rs 8,84,906.88 crore, which is 40.94 percent of the anticipated cost of the projects.
 
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Centre approves Rs 1,600 cr for Dibang Multipurpose Project

Thursday, July 18, 2019, 10:13 AM

The Centre approved Rs 1,600 crore for pre-investment activities of the Dibang Multipurpose Project (MPP) in Arunachal Pradesh. The project is envisaged as a storage-based hydro-electric project with flood moderation as the key objective. The decision has been taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, according to an official statement.

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