The Brihanmumbai Municipal Corporation (BMC) achieved a significant milestone in the Mumbai Coastal Road Project by successfully installing a second large Bow Arch String Girder connecting the Mumbai Coastal Road and the Bandra-Worli Sea Link on Wednesday morning. This accomplishment was made possible under the guidance of Municipal Commissioner and Administrator Bhushan Gagrani, along with Additional Municipal Commissioner (Eastern Suburbs) Dr. Amit Saini.

The girders, installed along the route from Nariman Point to Worli, each weigh an impressive 2,500 metric tons and measure 143 meters in length, 31.7 meters in width, and 31 meters in height.

Taking to its official social media handle, the BMC announced the successful installation of the second girder, stating that the work commenced at 3 am and concluded at 6:07 am on May 15, 2024. Installing this second girder posed a challenge due to its proximity, just 2.8 meters away from the first girder installed earlier.

The key figures overseeing the project included Managing Director of Mumbai Metro Rail Corporation, Smt. Ashwini Bhide, Additional Municipal Commissioner (City) Dr. Ashwini Joshi, Deputy Municipal Commissioner (Special Engineering) Chakradhar Kandalkar, Chief Engineer (Mumbai Coastal Road Project) Girish Nikam, Deputy Chief Engineer Mantaiah Swami, President of HCC Ajit Gulabchand, along with officials, engineers, and staff of the Mumbai Coastal Road Project.

The BMC indicated that the next phase of the Mumbai Coastal Road Project would commence soon after the completion of the remaining works. This project, led by the BMC, aims to enhance connectivity and ease traffic congestion along the coastal stretch of Mumbai.

Notably, this achievement follows the installation of the first bow arch string girder earlier in April this year, marking a significant step forward in the Mumbai Coastal Road Project. The project holds immense importance in improving transportation infrastructure and connectivity in Mumbai, thereby facilitating smoother movement of vehicles and commuters along the coastal route.

The successful installation of the second large Bow Arch String Girder represents a significant advancement in the ambitious Mumbai Coastal Road Project, which seeks to address the city’s burgeoning transportation needs and alleviate congestion along its coastal areas. By seamlessly connecting the Mumbai Coastal Road with the Bandra-Worli Sea Link, this project promises to enhance connectivity and accessibility for residents and commuters alike.

The girders, with their substantial dimensions and weight, underscore the engineering prowess and meticulous planning involved in executing such a complex infrastructure undertaking. The close coordination among various stakeholders, including municipal authorities, engineers, and project managers, has been instrumental in ensuring the smooth progress of the project.

Moreover, the successful installation of the second girder demonstrates the BMC’s commitment to prioritizing infrastructure development and urban planning initiatives aimed at enhancing Mumbai’s liveability and resilience. As one of India’s premier metropolitan centers, Mumbai faces unique challenges related to population density, urban sprawl, and transportation infrastructure. Projects like the Mumbai Coastal Road play a pivotal role in addressing these challenges and fostering sustainable growth and development.

The Mumbai Coastal Road Project is not only about enhancing connectivity but also about promoting economic growth and prosperity.

Hyderabad’s GMR International Airport (GHIAL) on Tuesday was upgraded to a higher rating of ‘BB’ from ‘BB-’ by S&P Global Ratings due to stronger profitability, higher approved tariffs and a robust recovery in traffic. The stable rating outlook reflects a positive view that GHIAL’s ratio of operating cash flow (OCF) to debt will recover to 8 per cent to 9 per cent over the next two years, ending 31 March, 2025, (fiscal 2025) and 2026, from S&P’s estimate of 6.3 per cent in fiscal 2024 driven by robust traffic growth and an improvement in EBITDA margin to close to 50 per cent, S&P said on Tuesday.

The stronger performance tariff (aeronautical revenue per passenger, excluding cargo, ground handling, and fuel farm) will increase to Rs 440 per passenger in fiscal 2025 and Rs 420 in fiscal 2026, from Rs 300-R 400 over the past two years. This increase will support a doubling of EBITDA to about Rs 15.8 billion in fiscal 2025, from fiscal 2023 levels. Similarly, we expect operating cash flow to double to more than INR 6 billion in fiscal 2025.

The airport’s profitability has also recovered significantly during the first nine months of fiscal 2024, raising expectations of strong EBITDA margins of 50 per cent to 53 per cent over the next three years backed by higher passenger traffic and non-aeronautical revenue, particularly in the retail and duty-free segments. Moreover, GHIAL’s operating costs will likely stabilize following the completion of its terminal expansion.

The global rating agency also observes robust recovery in passenger traffic which will support improvement in financial performance. The estimate is that total passenger traffic at Hyderabad airport will increase to about 29 million passengers in fiscal 2025 and 32 million in fiscal 2026, registering a 10-15 per cent annual growth. We believe inflation and higher air fares will not materially dent travel demand.

The airport’s total passenger traffic rebounded strongly to 25 million passengers in fiscal 2024, about 115 per cent of pre-pandemic levels. Domestic and international traffic surpassed pre-pandemic levels. Strong demand for both leisure and business travel, higher airlines’ capacity, and an increase in daily flights on commissioning of recent terminal expansion will support traffic growth for GHIAL.

However, GHIAL’s capital spending for its next phase of expansion and for dividends may limit significant improvement in cash flow metrics. The company’s next phase of expansion over fiscals 2028-2031 would have a total project cost of about Rs 55 billion. Large expansion work will likely start in fiscal 2028 with the construction of a second runway. As such, capital expenditure (capex) needs could increase significantly during that year to Rs 6 billion, from Rs 5 billion in fiscals 2026-2027.

According to S&P Global, GHIAL may resume dividend payments of Rs 2 billion in fiscal 2025 and the payout could further rise to Rs 3-5 billion in subsequent years. In S&P’s view, greater clarity on GHIAL’s dividend policy and distributions are key credit considerations. Materially higher dividends than we estimate could weaken the company’s financial ratios.

After Amrit Bharat stations and trains, the Ministry of Railways is now working on the Amrit Yard concept to decongest saturated yards on the railway network.

The Institute for Energy Economics and Financial Analysis (IEEFA) and Ember’s report, “Indian States’ Electricity Transition” (SET), underscores Karnataka and Gujarat’s leadership in advancing the clean energy transition. The report emphasizes that these states have demonstrated robust performance in various aspects, successfully integrating renewable energy sources into their power sectors and making significant progress in decarbonization efforts.

The report evaluates the clean electricity transition preparedness at the subnational level. In 2024, the report adds five more states, totaling 21 states and representing about 95% of India’s annual power demand in the past seven financial years (FY) 2018 to 2024 (up to November). This year, the assessment parameters have been updated to better align with states’ electricity transition progress, incorporating stakeholder feedback and data availability. According to the re – port, progress in states like Jharkhand, Bihar, West Bengal and Uttar Pradesh needs to improve, similar to last year’s findings. While these states are in the early stages of their transition, they now need to focus on increasing renewable energy deployment, enhancing short term market participation and strengthening their distribution companies.

The report was released when temperatures in India started to soar, leading to the Ministry of Power preparing for a projected peak power demand of 260 gigawatts. Harsh summers also offer the chance to utilise more clean energy like solar power. Although, this requires the preparedness of states to transition to clean sources of electricity. “Cyclical weather conditions coupled with faster economic activity is pushing India’s peak electricity demand higher every year.

While the central government is taking steps to integrate more renewable energy into the grid, states, too, need to be prepared to do so. Gauging subnational progress now requires constant monitoring of several parameters at the state level. A purely national overview can often overshadow subtle intricacies at the state level, which may stymie the country’s electricity transition,” said the report’s contributing author, Vibhuti Garg, Director – South Asia, IEEFA.

The report finds that while the national-level progress towards the electricity transition is progressing well, it is far more uneven at the state level. “Some states have developed progressive steps, such as boosting decentralised renewable energy deployment, promoting solar pumps for agricultural needs, and enhancing storage solutions to ensure more renewable energy in their electricity systems. But, the transition to clean electricity is still in its infancy in many states.

These states should look to accelerate the efforts to access the benefits of a transition to clean electricity and to ensure that they are not left too far behind the better performing states,” said the report’s contributing author, Aditya Lolla, Asia Programme Director, Ember. One of the major findings from the report was that several states are exhibiting preparedness to embrace electricity transition.

They perform well in the Readiness and Performance of the Power Ecosystem and Market Enablers dimensions but need to improve in the Decarbonisation dimension. “Delhi’s power system is well-prepared for decarbonisation, while Odisha has robust market enablers to support decarbonisation in the power sector.

However, their actual decarbonisation progress so far does not match their strengths in these aspects, highlighting the importance of performing well in both dimensions to effectively achieve decarbonisation goals,” said co-author Neshwin Rodrigues, Electricity Policy Analyst, Ember.

The plan introduces a revamped ticket refund scheme ensuring refunds within 24 hours, streamlining the process and improving customer satisfaction.

In a significant move aimed at enhancing passenger convenience and modernizing the Indian Railways, officials have unveiled a comprehensive 100- day plan following the 2024 elections. This ambitious plan encompasses a range of passenger-friendly measures and infrastructural developments. One of the key highlights of the plan is the introduction of a revamped ticket refund scheme, which guarantees refunds within 24 hours, replacing the existing process that could take up to one week.

This initiative aims to streamline the refund process and enhance customer satisfaction. Additionally, Indian Railways is set to launch a comprehensive ‘super App’, consolidating various railway-related services into a single platform. From booking and cancelling tickets to live tracking of trains and ordering food onboard, the super App is poised to revolutionize the passenger experience. Moreover, the government has announced the implementation of the “PM Rail Yatri Bima Yojana,” an insurance scheme designed to provide coverage to all rail passengers, ensuring their safety and well-being during their journey.

In line with efforts to modernize the railway infrastructure, an investment ranging from Rs 10 to 12 lakh crore over the next five years has been earmarked. This substantial investment aims to transform Indian Railways into a modern, world-class transportation system equipped with stateof-the-art facilities. The introduction of Vande Bharat trains across India marks another significant development, with plans to categorize them into three types based on route lengths: Vande metro, Vande chair car, and Vande Sleeper, catering to different travel distances. Furthermore, the government envisions the creation of three economic corridors spanning over 40,000 kilometers, with an investment exceeding Rs 10 lakh crore.

These corridors are expected to boost economic growth and connectivity across the country. In a bid to enhance passenger experience, over 1,300 railway stations are slated for modernization through private participation, offering world-class amenities such as shopping malls and airport-like waiting lounges. Expanding metro networks in urban cities and introducing more high-frequency trains, like the partially launched RAPID rail between Delhi and Meerut, are also part of the ambitious plan. The propose

st the formation of the new government. These initiatives underscore the government’s commitment to revolutionizing India’s railway sector and fostering economic growth and connectivity nationwide. This initiative represents a significant stride towards enhancing passenger convenience and aligning railway services with modern expectations.

By slashing the refund processing time from up to one week to a mere 24 hours, the plan demonstrates a commitment to efficiency and customer-centricity. Streamlining the refund process not only reduces inconvenience for travellers but also fosters trust and confidence in the railway system. With such proactive measures, the Indian Railways is poised to redefine standards of service excellence, setting a precedent for other sectors to emulate in the journey towards progress and innovation.

As per the real estate consultancy firm CBRE, the development of the first phase of International Film City in Noida is expected to generate direct and indirect employment for 10,000 people.

The foundation stone for Uttar Pradesh’s government ambitious International Film City project is likely to be laid soon after the Lok Sabha elections, according to sources. According to sources, the foundation stone of the project will probably be laid by late June 2024 after the general elections. The nationwide Lok Sabha elections are set to begin on 19 April and will continue till 1 June. The results of the election will be announced on 4 June, 2024. In a Cabinet meeting held last month in March, the UP government gave approval for the film city project.

Later that month, the government also issued the award letter for the concessionaire of the project. Baywatch Projects LLP, helmed by Bollywood filmmaker Boney Kapoor, heads a consortium with Noida’s Bhutani Infra to develop the Film City project near Noida International Airport along the Yamuna Expressway. The first phase of the project will be built on 230 acres of land. “The foundation stone of the project was to be laid by UP CM Yogi Adityanath in March 2024 before the model code of conduct, but it could not happen. So the state government is now likely to lay the foundation stone for the project in June 2024, soon after the Lok Sabha elections. Officials of the state government in Lucknow as well as of YEIDA (Yamuna Expressway Industrial Development Authority) have also been asked to start preparations in this connection,” sources told the media.

He said that the work on the ground is likely to start soon after the foundation stone laying. UP Chief Minister Yogi Adityanath’s ambitious International Film City will be developed in Sector 21 along the Yamuna Expressway near Noida International Airport. Yamuna Expressway Industrial Development Authority (YEIDA) is helming the project and it has also allotted land to the consortium in sector 21 where construction work will be started.

USE OF SOLAR ENERGY

Sources also the use of solar energy is being considered for electricity. According to the master plan of the film city, all the studios in the film city will run on solar systems that will be installed on the rooftops of studios, sources said. They said that in a recent presentation, the company also informed officials that the International Film City will be developed by dividing it into seven zones in Sector-21 near Noida Airport and it is also likely to have a signature tower in the film city.

The financial bids for the film city project were opened on January 30, 2024 at the YEIDA office where Boney Kapoor’s Bayview Projects LLP in association with Bhutani Infra had emerged as the highest bidder for the project. Out of 230 acres of land, 155 acres will be dedicated for industrial use and the remaining 75 acres for commercial use.

The industrial aspect of the project will comprise the development of film studios, a film institute, post-production facilities, and other film related developments, while the commercial part will include activities such as hospitality projects and amusement parks, among others.