Gold
J Kumar bags Chennai Port-Maduravoyal Expressway’s Package 3
The company was declared the low bidder for this 4.485-kilometer section that connects Aminjikarai (km 9.700) and Maduravoyal (km 14.185).
The National Highways Authority of India (NHAI) is building a double-decker access-controlled elevated highway along the Cooum River in this four-lane project. Prime Minister Narendra Modi lay the foundation stone in May 2022 under the Bharatmala Pariyojana initiative, with an estimated cost of Rs 5,855 crore.
The NHAI had invited tenders for its construction in July 2022, with an estimated cost of Rs. 871.49 crore and a construction deadline of 910 days. In April, technical bids were opened, revealing seven bidders.
Financial bid values
Project’s route by NHAI’s consultant
In a recent tweet by Nitin Gadkari he stated, “completion of this project is expected to alleviate traffic congestion in Chennai by segregating local traffic movement onto one tier of the Elevated highway. Additionally, it will double the handling capacity of the port, reduce waiting times at the port, and decrease travel time for vehicles bound for the port by an hour.”
More information of package 2: J Kumar wins contract Chennai Port – Maduravoyal Expressway project
Read more: Now Chennai Port-Maduravoyal expressway to cost Rs 24 billion. Read below to know the additions in its revised work
JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh
This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...
Prism Johnson's cement division goes live with Ramco ERP Suite
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Indian shadow bank Shriram Finance gets record $1.28 billion loan
Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..
