9 January, 2018
Hyderabad Metro finally launched
Prime Minister Narendra Modi inaugurated the first phase of the 72-km elevated Hyderabad Metro Rail project at the Miyapur station. The Hyderabad Metro Rail project is the first 'transit oriented development' (TOD) project that will exploit the real estate and earn revenue by leasing out commercial and office spaces inside and outside the metro stations across the city.
The rapid transit project has been planned with two components – stations along the elevated metro rail system and TOD branded 'Hyderabad Next'. Depending on the city's appetite, 'Hyderabad Next' will be developed with various assets like office and retail spaces, hospitality, healthcare, and mixed use facilities.
India and Italy sign MoU for Co-operation in the Medical Infrastructure Space
India and Italy have inked an MoU for enhanced cooperation in the health sector by pooling in technical, scientific, financial and human resources to upgrade infrastructural resources, medical education and research of both the countries.
The MoU recognises the potential for exchange in the health sector between the two countries, and the need to tap the capabilities and opportunities in a focused and comprehensive manner.
The objective of the MoU is to establish cooperation between the two countries in the field of health by collaborating on technical, scientific, financial and human resources with the ultimate goal of upgrading the quality and infrastructural resources involved in health care, medical education and training and research in both countries.
NHAI to be vested with more power to implement the Bharatmala Programme
The National Highways Authority of India (NHAI) is set to get the power to approve projects with a construction cost of more than Rs 1,000 crore to ensure faster implementation of the Bharatmala programme. Currently, all highway projects that entail a construction cost of more than Rs 1,000 crore, excluding land, need to be approved by the Cabinet Committee on Economic Affairs (CCEA).
Under a new proposal, only public private partnership (PPP) projects under the build-operate transfer (BOT) model, where viability gap funding (VGF) is to be provided by the government, will need CCEA clearance.
The Bharatmala corridors have been mapped as per traffic density and economic relevance of the cities that will be connected with the help of the Bhaskaracharya Institute for Space Applications and Geo-informatics. The project involves constructing 24,000km of fresh highways. The project is aimed at speeding up cargo movement and the development of multimodal logistics hubs and parks on the periphery of major commercial centres.
Global Firms Line-Up For Constructing India’s Largest Convention Centre
Nearly 15 global players including Samsung Construction and China Construction are competing with home-grown companies such as L&T and Reliance Infrastructure for bagging the contract for constructing India’s largest convention centre. The government has invited the request for proposal under the engineering, procurement and construction (EPC) mode after the Rs 26,000 crore International Convention and Expo Centre (IICC) project received the Union cabinet’s nod in November.
The EPC contract will be finalised by the end of December this year. It would involve development of trunk infrastructure along with exhibition-cum-convention centre and internal road network system, and underground car parking facilities.
The first phase will commence in January 2018 and is likely to be completed by December 2019.
Convention and exhibition facilities will be operated and managed by experienced global player. The facilities will be on a par with the best in the industry worldwide in size and quality.
For further information, please contact:
Vineet Aneja, Partner, Clasis Law
vineet.aneja@clasislaw.com
