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Chennai metro: Tunnelling for Chetpet-Nungambakkam stretch starts July
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
Interlinking Rivers (ILR) to Boost Business
India’s ambitious Interlinking of Rivers (ILR) projects could present Rs.2 lakh crore worth of business opportunities for engineering, procurement, and construction (EPC) companies over the next four years, according to ICRA. Four key priority river links are set to generate significant economic growth, with ?80,000 crore directed toward large-scale irrigation projects. Four Priority Projects: The Godavari-Cauvery link is the largest, representing 45% of total expenditure, followed by the Ken-Betwa link, accounting for 21%. Other notable projects include the Kosi-Mechi and Parbati-Kalisind..
SpiceJet Raises Rs.3,000 Crore Via QIP
SpiceJet announced raising Rs 3,000 crore through a Qualified Institutional Placement (QIP) that closed on September 18. The QIP attracted overwhelming interest from prominent institutional investors, reflecting strong confidence in the airline's growth potential. Key investors included Goldman Sachs Singapore, Morgan Stanley Asia, BNP Paribas, Nomura Singapore, and Tata Mutual Fund. In addition to the QIP, the airline will receive Rs.736 crore from a prior funding round, further enhancing its financial position. The funds will be utilized to operationalise grounded aircraft, acquire new plan..
India’s Exporters Face Freight Challenges
India’s exporters are grappling with steep freight rates, container shortages, and limited shipping space, according to foreign container shipping lines. While freight rates have eased, dropping by 30-40% for shipments from India’s east coast to Europe and the U.S., exporters continue to face hurdles. Freight rates to the U.S. are now between $4,300 and $4,500 per twenty-foot equivalent unit (TEU), down from $5,500-$6,000, while rates to Europe have decreased to $3,000-$3,200 per TEU. These reductions are partly due to the conclusion of the Christmas season cargo rush, where large volumes..
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