DMRC Faces Rs 155.4 Bn Shortfall in Recovery

19 Dec 2024 CW Team

The Comptroller and Auditor General (CAG) has raised concerns over the Delhi Metro Rail Corporation's failure to recover Rs 155.4 billion it was owed in repair costs and other incidental expenses. In a report tabled in Parliament on Monday, the CAG said that due to poor construction quality by the contractor and reluctance of the contractor to rectify the defects within defect liability period, the DMRC carried out the repair work (including consultancy work) through other contractor at Rs 118.5 billion. In addition to repairing cost, DMRC also incurred incidental expenses of Rs 78.1 billion on account of shifting allottees to alternative accommodation and payment of lease charge, brokerage etc.

Infrastructure Urban

15 May 2025

CCI Approves Indorama鈥檚 24.9 per cent Stake Buy in EPL Limited

The Competition Commission of India has approved the proposed acquisition of a 24.9 per cent equity stake in EPL Limited by Indorama Netherlands B.V.The transaction involves Indorama Netherlands B.V., a private limited liability company incorporated in the Netherlands and an indirect subsidiary of Indorama Ventures Public Company Limited, acquiring nearly a quarter of EPL Limited鈥檚 share capital.EPL Limited operates in the packaging sector, specialising in the manufacture and sale of laminated and extruded plastic tubes.A detailed order from the Commission is expected to be issued shortly. ..

Infrastructure Urban

15 May 2025

IWAI Opens Srinagar Office to Boost River Transport

In a significant development for the Inland Water Transport (IWT) sector in the Union Territory of Jammu and Kashmir, the Inland Waterways Authority of India (IWAI), under the Ministry of Ports, Shipping and Waterways, has established a new office at Srinagar鈥檚 Transport Bhawan. The premises have been provided by the Jammu and Kashmir government, and the office will be operational from today. It will serve as the hub for all IWT-related projects in the region.IWAI has entered into a Memorandum of Understanding (MoU) with the Union Territory鈥檚 government to develop inland navigation infrast..

Technology

15 May 2025

India Opens First 3nm Chip Design Centre

Union Minister for Electronics & IT, Railways, and Information & Broadcasting, Shri Ashwini Vaishnaw, today inaugurated two advanced semiconductor design facilities of Renesas Electronics India Private Limited, located in Noida and Bengaluru. Marking a milestone in India's semiconductor journey, the Minister announced that these centres include the country鈥檚 first-ever facility dedicated to designing next-generation 3 nanometre (nm) chips.鈥淒esigning at 3nm is truly cutting-edge. India has already worked on 7nm and 5nm nodes, but this takes us into a new league,鈥� said Shri Vaishna..