Nitin Gadkari led MoRTH to seek Cabinet nod for 24,800 km Bharatmala project
By: Surya Sarathi Ray | New Delhi | Updated: April 21, 2017 7:17 AM
The Nitin Gadkari-led ministry of road transport and highways (MoRTH) will soon seek Cabinet approval for its hugely-ambitious Bharatmala project, under which 24,800 km of highways would be built in the first phase, entailing an investment of Rs 5.5 lakh crore. MoRTH sources said that the Bharatmala project is designed to be an umbrella programme, under which all existing and envisaged highway and expressway projects would be brought.
It will also subsume the National Highways Development Project (NHDP). Though the total size of the Bharatmala programme is yet to be firmed up, sources said it could be to the tune of Rs 10 lakh crore, the largest-ever envisaged outlay for highway construction (see more)
Rlys launches new Rs 33.54cr container depot in Ajmer division:
TNN | Apr 20, 2017, 11.58 PM IST
Ajmer: In a huge boost to the marble industry in Udaipur, Chittorgarh and surrounding areas, a major container depot has started functioning at Khemli station, between Chittorgarh and Udaipur.
This is the first such depot in Ajmer division of of North West Railways (NWR). The depot, which was included in railway minister Suresh Prabhu’s Mission 100, was completed in seven months. The Rs 33.54-crore facility will also help to develop the handicraft industry in this region (see more)
ACTL forms JV with Japanese co to run pvt container train:
By PTI Feeds | Published: April 20, 2017 8:45 PM IST
New Delhi, Apr 20 (PTI) Associated Container Terminals (ACTL) and Japan-based logistics firm Konoike Transport have formed a joint venture to run private container trains in India.3The joint venture, named as Joshi Konoike Transport and Infrastructure (JKTI), would run these trains under the brand name Trac1 Logistics.
ACTL Chairman R R Joshi in a statement said that with this association, “we aim to further emphasise on the core ethics of this business which include punctuality, safety and innovation”.Tsuji, the Chairman of Konoike Group, said the joint venture would deliver quality services in logistics (see more)
Embassy Industrial buys land in Haryana for Rs 140-cr park:
By PTI Feeds | Published: April 20, 2017 7:04 PM IST
New Delhi, Apr 20 (PTI) Embassy Industrial Parks today said it has bought 24 acres of land in Haryana to develop a logistic park with a total investment of Rs 140 crore. Embassy Industrial Parks, a joint venture between the Embassy Group and Warburg Pincus, has been set up to develop industrial and logistic parks across the country.
With rapid growth of e-commerce and retail sectors, there is a rising demand of industrial and warehousing spaces and the company seeks to tap this market. “We have bought 24 acres of land in Haryana for Rs 38 crore to develop a logistic park. We will invest another Rs 102 crore to construct this park in next 18 months,” the company’s CEO Anshul Singhal told PTI (see more)