Infrastructure

After strong increase in the previous two fiscal years, construction equipment sales were unchanged in the first quarter. Road building project awards slowed and elections lowered demand, causing this stalemate.

Canadian investment giant Brookfield Asset Management will pay $550 million (INR 4,594 crore) to purchase a majority interest in Tamil Nadu-based renewable energy platform Leap Green Energy. Commercial and industrial (C&I) users use this platform for renewable energy solutions.

In Palghar, Maharashtra, the Vadhavan Port will transform marine and real estate. An all-weather Greenfield deep draft major port announced by Prime Minister Narendra Modi's Union Cabinet would boost India's marine capabilities and Palghar's real estate sector.

A strategic bond sale by MMRDA to fund INR 50,000 crore will accelerate Mumbai's infrastructure development. MMRDA hopes to overcome its financial issues and forward critical projects that would boost connectivity and growth with state government support and a strong financial plan.

The strategic realignment of the Sewri-Worli connector by MMRDA, approved under the leadership of Chief Minister Eknath Shinde, aims to minimize the project's impact on existing structures.

The Tamil Nadu government aims to build a greenfield international airport in Hosur, transforming this border town of Bengaluru into an economic powerhouse. About three crore people will pass through the 2,000-acre airport.

Deputy Chief Minister Ajit Pawar says the Sewri-Worli link would open in December 2025. Furthermore, 37km of new Metro lines will be inaugurated this fiscal year.

Mumbai’s first Metro line, the 12-kilometre Versova-Andheri-Ghatkopar corridor, celebrates 10 years of commercial service since its launch on June 8, 2014.

Andheri's Gokhale Bridge-C D Barfiwala Flyover alignment is nearing construction. By June 2024, BMC officials hope to complete placing expansion joints between the two buildings, levelling, and other minor work.

Mumbai's first metro line is nearing completion. The much-anticipated Aarey vehicle shed (maintenance facility), vital to metro operation, is nearly 99% complete. Metro trains will soon undergo final inspections and be ready for operation.

The Andheri East-West Gopalakrishna Gokhale Bridge is on track to finish by June 30, 2024. The schedule for connecting this bridge to the C.D. Barfiwala Flyover is being followed. The project is actively monitored by municipal authorities and VJTI technical consultants.

Mumbai will invest INR 3000 Crore in infrastructure in 2024 to close a two-decade development gap. Eight major road and rail projects will improve connectivity, travel times, and the city's worldwide competitiveness in this ambitious makeover.

A monumental 2,000-metric-ton arch bridge, integral to the Mumbai Coastal Road project, embarked on its voyage from Mazagon Dock's Nhava unit at 12:30 PM recently.

The Brihanmumbai Municipal Corporation (BMC) will build a parallel drainage line to address Andheri subway's monsoon flooding. This project intends to properly channel surplus precipitation into the Bhardawadi nullah to reduce seasonal floods.

The Indian Finance Ministry has extended PMAY-G funds till September 2024 to build 3.5 million rural dwellings. This prolongation is part of the government's pursuit of "housing for all" by March 2024.