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New Delhi, Feb 13 () Union minister Nitin Gadkari on Thursday urged industry players to join hands with the government for the proposed electric lane on Rs 1.03 lakh crore Delhi-Mumbai Expressway while promising to provide policy support to serious players. He said while a stretch of the Delhi-Mumbai Expressway is planned as electric lane, the Delhi-Jaipur part of the 1,320 km expressway will be completed before Diwali. "Indian investors should come forward for investing in electric lane stretch of the Delhi-Mumbai expressway to be built at a cost of Rs 1.03 lakh crore within three years," the Road Transport and Highways Minister said while addressing a conference on 'Developing a Roadmap for Low Carbon &amp; Sustainable Mobility in India' by FICCI here. The minister said the government is ready to provide policy support to serious investors and also appealed them to come forward in the field of alternative fuel including bio-CNG and electric vehicle. The could cut on India's huge Rs 7 lakh crore crude imports, he said. Stressing on modern transport infrastructure, he said he will also take up the issue of electric highways during his ensuing visit to Sweden this month. The minister also said that electric vehicles have become popular among Indian companies and start-ups, and days were not far-off when India will be a key player in export of electric vehicles. He also said that water transport was one of the viable mobility solutions and added that metros could be successful in tier 2 and 3 cities. Besides Delhi-Mumbai Expressway, work has been initiated on six other express highways out of proposed 22 projects, he said. The entire Delhi Mumbai Express Highway will be completed in the next three years, the minister said, adding that land acquisition for the project has been completed and resulted in savings to the tune of Rs 16,000 crore on it being on a new alignment. "We have saved about Rs 16,000 crore on land acquisition front alone as land could be acquired at a cost of Rs 80 lakh per hectare for the project," he said, adding that the expressway will unlock new economic opportunities in hinterland districts of Haryana, Rajasthan, Madhya Pradesh and Gujarat. NAM MRMR

Gadkari invites players for electric lane of Delhi-Mumbai Expressway

Mumbai, Feb 25 () Toll road firm IRB Infrastructure Developers on Tuesday said it has bagged a contract for operating and collecting toll on Mumbai-Pune Expressway project under the toll-operate-toll model. The company has received a letter of acceptance (LoA) from Maharashtra State Road Development Corporation (MSRDC) for a period of 10 years and two months. The concession includes collection of toll and operation and maintenance activities on the expressway and old Mumbai-Pune highway NH-48 for the period up to April 30, 2030, the company said in a statement. As per the contract, IRB will have to pay Rs 8,262 crore to MSRDC for the rights for collecting toll, which would include an upfront payment of Rs 6,500 crore and a further staggered payment of Rs 850 crore each in second year and third year, and Rs 62 crore in fourth year. "The company will take possession of the project from March 1, 2020 and commence tolling and O&amp;M activities," IRB said. Commenting on the development, company's chairman and managing director Virendra Mhaiskar said, "We had managed this project for 15 years from 2004 to 2019 and hence we feel that it will help us in managing the project well and meet the expectations of all stakeholders." During the earlier concession period, IRB had paid Rs 918 crore to MSRDC for bagging the project. After the concession agreement lapsed in August last year, MSRDC had handed over toll collection on the stretch on temporary basis to Sahkar Global. Meanwhile, toll rates on the expressway are expected to increase from April 1 for three years after the appointment of new concessionaire. As per a government notification, the new toll rates for cars will increase from Rs 230 to Rs 270, while for mini buses it will go up from Rs 355 to Rs 420 for trucks, and it will rise from Rs 493 to Rs 580 for heavy axle vehicles. For buses, it will increase from Rs 675 to Rs 797, and for large trucks it will rise from Rs 1,165-1,555 to Rs 1,380-1,835. PSK RVK

IRB Infrastructure bags contract for operating, collecting toll on Mumbai-Pune Expressway

(Photo Source: TravelTriangle) <ul><li>The Delhi-Mumbai expressway which recently got underway is being planned in a way that is expected to cut the tiger passage between India’s Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary that may disturb the natural surroundings to tigers. </li><li>The expressway, which is planned to be 1,250 km long, as National <keyword id="6354768" type="ORGANIZATION" weightage="20" keywordseo="Highway">Highway</keyword> Authority of India (NHAI) has given its consent to build six lane road from Western Peripheral Expressway (WPE), will now extend up to ring road near DND flyway. </li><li> It will trim the road-distance to Mumbai to 12 hours, which currently takes 24-48 hours. </li><li>The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to cost nearly ₹600 billion.</li></ul>The Delhi-Mumbai expressway which recently got underway in December, is being planned in a way that is expected to cut the tiger passage between Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary, a move that may <a href="https://timesofindia.indiatimes.com/city/delhi/proposed-delhi-mumbai-expressway-faces-rajasthan-tiger-habitat-hurdle/articleshow/67224179.cms">disturb the natural surroundings to tigers</a>. According to experts, this passage should be kept undisturbed so as to allow movement of cats along the corridor, which may be compromised once the expressway is functional. The expressway has now been given greenlight by National Highway Authority of India (NHAI) to build six lane road from Western Peripheral Expressway (WPE) and is <a href="https://timesofindia.indiatimes.com/city/delhi/mumbai-e-way-to-come-into-delhi-manesar-to-get-closer/articleshow/67249427.cms">planned to extend</a> up to ring road near DND flyway. Originally, the expressway is planned to be 1,250 km long, which is aimed to provide a smooth route to commuters that can run vehicles at a speed of 120 km per hour, will be a <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">signal-free </a>one. The expressway is expected to be an alternative fast-track route to Manesar in Haryana from from east and South Delhi, easing local traffic congestion. It will <a href="http://v">trim the road-distance</a> to Mumbai to 12 hours, which currently takes 24-48 hours. The six-lane road stretching over 59 kms has been planned to diverge into four sections including the first patch of 7.3 km from DND flyway over river Yamuna. The expressway is expected to bring a huge relief to commuters from residents of National Capital Region. The project will have 13 flyovers, two rail-bridges and nearly 10 minor bridges. The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to accept bids by August next year, Times of India reported. Overall, the project is expected to cost nearly <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">₹600 billion</a> from Delhi making way to Maharashtra via Haryana , Gujarat, Rajasthan and Madhya Pradesh. See also: <a href="https://www.businessinsider.in/indias-longest-railroad-bridge-has-the-capacity-to-land-fighter-jets-and-battle-tanks/articleshow/67251655.cms">India’s longest railroad bridge has the capacity to land fighter jets and battle tanks</a> <a href="http://v">India plans to build 11 emergency airstrips on its national highways</a> <a href="https://www.businessinsider.in/the-indian-capitals-new-eiffel-tower-is-supposed-to-a-be-structure-that-says-namaste/articleshow/66510509.cms">The Indian capital’s new ‘Eiffel Tower’ is supposed to a be structure that says ‘Namaste’</a>

Delhi-Mumbai expressway: The proposed project may be a threat to tiger species in India

<ul><li><keyword id="490067" type="ENTERTAINMENT" weightage="20" keywordseo="Bullet-train">Bullet train</keyword> tracks alongside the <keyword id="3120794" type="LOCATION" weightage="20" keywordseo="Mumbai-Nagpur-Expressway">Mumbai-Nagpur expressway</keyword> proposed. </li><li>When functional it will drastically cut down travel time along the 800 km stretch. </li><li>Spanish consultant Ineco’s feasibility study gave the project a green light </li></ul>A joint venture between the <keyword id="168381" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-road-transport">Ministry of Road Transport</keyword> and Highways and the <keyword id="6356031" type="UNKNOWN" weightage="20" keywordseo="Indian-Railway">Indian Railway</keyword> might soon give rise to a first of a kind coordinated transportation project. The project is a rail line along the proposed Nagpur Mumbai expressway for Bullet train and once functional, this will cut down the travel time between the two cities drastically. The ministry is already in the process of acquiring land for it and the rail lines might come up in the middle or parallel to the 800km highway. For this, bridges, tunnels and flyover constructions will also be necessary and will be done in accordance with the ground situation and the feasibility report drawn up by Spanish consultants Ineco. “Spanish consultant <a href="https://www.ineco.com/webineco/">Ineco</a> has conducted a feasibility study on constructing a high-speed rail line along the proposed Mumbai-Nagpur Expressway and the reports are positive,” a senior <keyword id="54441" type="ORGANIZATION" weightage="20" keywordseo="Railway-ministry">Railway Ministry</keyword> official told <a href="http://www.ians.in/">IANS.</a> The Mumbai-Nagpur expressway is a part of the diamond quadrilateral, and this rail project will reduce the travel time for both on road and train travellers since the elevated rail tracks and fully <a href="https://www.financialexpress.com/infrastructure/railways/bullet-train-to-come-up-along-new-mumbai-nagpur-expressway-first-of-its-kind-project-likely/1191774/">access-controlled expressway</a> will ensure an uninterrupted high-speed journey.

India’s first-of-its-kind Bullet train project might be a reality soon

Travelling around the wonderland that is India is a thrilling experience, especially when fast-moving super <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> are right here to ensure some wonderful on-the-road vacations. Of course there are business travellers who are in a hurry to reach their destinations and <keyword id="2053038" type="UNKNOWN" weightage="100" keywordseo="Super-fast-expressways">super fast expressways</keyword> minus traffic snarls suit them down to the ground. But then, you can be one of those away on a leisure trip and looking forward to a fast and panoramic drive on your way to a new city. Either way, the expressways of India won’t disappoint you. As we mentioned before, expressways are controlled-access highways like the freeways or motorways or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane toll <keyword id="6358996" type="PERSON" weightage="100" keywordseo="roads">roads</keyword> and cover a total distance of nearly 1,208.19 km. 
 
Last month, we brought you <a href="http://www.businessinsider.in/8-Super-ExpresswaysIn-North-India-That-Fulfil-Your-Need-For-Speed/articleshow/29486214.cms">8 super expressways</a> in North India that fulfil your need for speed. And this time, we move to the West and the North-west of the country where some more picturesque drives await us. However, the <keyword id="52840" type="UNKNOWN" weightage="100" keywordseo="sea-links">sea links</keyword> and the <keyword id="2053055" type="UNKNOWN" weightage="100" keywordseo="Coastal-expressways">coastal expressways</keyword> will come up in our next article. So grab a coffee, get a map and read on. By the time you are through, you could be checking the map and picking out the spots where you want to go first. As the Turkish playwright <keyword id="1981629" type="UNKNOWN" weightage="60" keywordseo="Mehmet-Murat">Mehmet Murat</keyword> ildan has said: Some roads are so beautiful that you know not whether you travel on the road or the road travels in you! 
 
Image: Thinkstock Photos/Getty Images

Open Roads Return: 6 Super
Expressways In West & North-west India

Union minister <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> on Wednesday urged industry players to cash in on the huge potential that 22 upcoming express <keyword id="6381514" type="COMPANY" weightage="20" keywordseo="highways">highways</keyword> hold in the areas of alternative fuel, electric highway and charging stations. The Road Transport, Highways and MSME Minister said that projects specially about Rs 1 lakh crore Delhi-Mumbai express highway can offer instant right of way to players interested in setting up LNG stations, electric charging stations or petrol pumps. Addressing a conference on 'Future Fuels for <keyword id="34991" type="COMPANY" weightage="20" keywordseo="transportation">Transportation</keyword>' by FICCI, the minister said plans were afoot to set up 2,000 petrol pumps, including LNG. "We are building 22 new express highways including Delhi-Mumbai Express Highway. Work on seven out of 22 projects have started and these have huge potential for the industry. If players want to come forward, we can offer right of way especially on Delhi-Mumbai Express Highway which we plan to complete within three <keyword id="6466901" type="UNKNOWN" weightage="20" keywordseo="years">years</keyword>," the minister said. Gadkari said plans are on for an electric highway stretch on Delhi-Mumbai Expressway and the land acquisition for over Rs 1 lakh crore expressway project has been completed.
 He said he will be visiting Sweden next month to see E-Highways and welcomed players for investments to convert highways into e-highways.
 He also said: "The RBI has assured us that they will allow us to take infrastructure loans for 30 years. So if a bankable project is for 30 years, the loan amount will be raised within 13-18 years. There will be two years moratorium period after completion of project. When after three years, toll collection starts then we will open an escrow account. Specific amount will be deposited in this escrow account."
 The minister said at present NHAI has 480 such secure, bankable projects and five more banks are willing to give loans like the SBI gave. 
 "Depending upon traffic, we will keep depositing money in the escrow account," he said.
 He said NHAI 's annual income for the current fiscal will be Rs 40,000 crore and it will reach Rs 1 lakh crore in coming years. See also: <a href="https://www.businessinsider.in/budget/news/exclusive-tcs-ceo-shares-his-hopes-and-fears-from-the-budget-2020/articleshow/73753459.cms?src=hp_ts">Exclusive: TCS CEO shares his hopes and fears from the budget 2020</a>

India's road transport and highway minister Gadkari urges industry to cash in on new expressway projects

With so many highway movies doing the rounds, sojourning from city to city and state to state feels like a romantic prelude to a long <keyword id="6374782" type="UNKNOWN" weightage="100" keywordseo="journey">journey</keyword> of self-discovery – till reality strikes. And just like a movie, the reality can be multilayered – varying from bad roads to gasping traffic and minimal road safety. But we promised you relief from those travelling conditions the next time we return with our <keyword id="2053047" type="UNKNOWN" weightage="100" keywordseo="Open-roads">Open Roads</keyword> series. And here we are, with more information about a whole new bunch of <keyword id="2074695" type="UNKNOWN" weightage="100" keywordseo="Intracity-and-inter-city-expressways">intracity and inter-city expressways</keyword> that not only reduce <keyword id="4251245" type="UNKNOWN" weightage="100" keywordseo="Commute-time">commute time</keyword> but also reshape a country’s landscape, <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> and way of life. In the last slideshow of this series, the journey begins from the <keyword id="44875" type="UNKNOWN" weightage="100" keywordseo="West-coast">west coast</keyword> and goes down south. 
 As we have mentioned before, expressways are limited-access roads designed for high-speed traffic. The economic impact of an <keyword id="2074705" type="UNKNOWN" weightage="100" keywordseo="Expressway-network">expressway network</keyword> criss-crossing the country is all too obvious and the <keyword id="6404450" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-Road-Transport-and-Highways">Ministry of Road Transport and Highways</keyword> (MoRTH) has already recommended a total <keyword id="2074707" type="UNKNOWN" weightage="100" keywordseo="E-way-network">e-way network</keyword> of about 18,637 km in the country. Development work is being done in three phases and is scheduled to be completed by 2022. During the Interim Budget, <keyword id="6355261" type="POSITION" weightage="60" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="43940" type="PERSON" weightage="60" keywordseo="P-Chidambaram">P Chidambaram</keyword> also told the Parliament the road network in the country witnessed over sevenfold increase at 3.89 lakh km over the past decade. 
 Does that mean we may soon see an <keyword id="2074709" type="UNKNOWN" weightage="100" keywordseo="E-way-ecosystem">e-way ecosystem</keyword> similar to the interstate system in the US? Given the obstacles in terms of <keyword id="6364579" type="UNKNOWN" weightage="100" keywordseo="Land-acquisition">land acquisition</keyword>, <keyword id="414903" type="UNKNOWN" weightage="100" keywordseo="fund-crunch">fund crunch</keyword> and <keyword id="2074714" type="UNKNOWN" weightage="100" keywordseo="Slow-implementation">slow implementation</keyword>, it’s definitely going to take some time. Meanwhile, hop into the driver’s seat and go off exploring some super-fast roads you have not travelled yet. After all, it’s a journey with no end… and wheels will always need roads. 
 
Image: Thinkstock Photos/Getty Images

Be It Intracity Or
Inter-city, These 5 Expressways Make Travelling A Breeze

Even in this age of jet travel and space tourism, highways hold an irresistible charm for travellers out to have an up, close and personal experience of the wide roads stretching ahead for miles, uninterrupted views of a breathtaking landscape, the occasional flyways and the not-so-familiar villages and towns rushing by. It’s even better than chugging along the countryside in a train. You can stop any time you want – to sample some chatpati chaat and a steaming cuppa of chai at a roadside dhaba; to talk to people; to take a dekko at local interests or simply laze an hour or two in shine or rain with the greens around you and the fresh smell of soil floating in the air. 
 
Now that our <a href="http://www.businessinsider.in/Chugging-Up-7-Mesmerising-Mountain-Train-RidesIn-India/articleshow/24288850.cms">train series</a> is over (but we promise to bring you more as soon as new and exotic routes come up), we are back with a more exciting roadmap of <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> that criss-cross the entire country, connecting the four metros and many of the Tier I cities, and going much beyond the urban landscape. Infrastructure development in India has undergone a sea change over the past few years and the country currently boasts the <keyword id="2034191" type="UNKNOWN" weightage="100" keywordseo="Second-largest-road-network">second largest road network</keyword> in the world, with a road length of over 4,689,842 km, as per 2013 data from the <keyword id="6404450" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-Road-Transport-and-Highways">Ministry of Road Transport and Highways</keyword>. 
 Starting from FY2012-13, the <keyword id="44734" type="ORGANIZATION" weightage="80" keywordseo="Indian-Government">Indian government</keyword> will be also putting $17 billion over the next five years, being sourced through public-private partnership (<keyword id="6361580" type="COMPANY" weightage="100" keywordseo="PPP">PPP</keyword>) road projects. This will be used by the <keyword id="87432" type="ORGANIZATION" weightage="100" keywordseo="National-Highways-Authority-of-India">National Highways Authority of India</keyword> (<keyword id="49448" type="ORGANIZATION" weightage="100" keywordseo="nhai">NHAI</keyword>) for the planned series of <keyword id="174913" type="ORGANIZATION" weightage="100" keywordseo="BOT">BOT</keyword> (build, operate and transfer) highways. In spite of several bottlenecks, the NHAI has set up impressive targets and aims to develop 20 km/day, in a bid to fast-track the country’s <keyword id="2034194" type="UNKNOWN" weightage="100" keywordseo="Road-network-expansion">road network expansion</keyword>. 
 As of July 2013, <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">national highways</keyword> account for 79,116 km, connecting all major cities and state capitals. Expressways, however, differ a bit in the sense they are controlled-access highways like the <keyword id="610047" type="UNKNOWN" weightage="100" keywordseo="freeways">freeways</keyword> or <keyword id="1333990" type="UNKNOWN" weightage="100" keywordseo="motorways">motorways</keyword> or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane <keyword id="120837" type="UNKNOWN" weightage="100" keywordseo="toll-roads">toll roads</keyword> and cover a total distance of nearly 1,208.19 km. India expects to add another 3,530 km of expressways by 2014 as projects under construction get completed. Another massive programme is also under way to expand the network and the Indian government plans to add an additional 18,637 km of expressways by 2022. 
 So are you ready to emerge on another breath-taking <keyword id="6374782" type="UNKNOWN" weightage="80" keywordseo="journey">journey</keyword> with us, literally a journey of thousand miles and more? We will bring you the super expressways zone-wise – so that you know which route to choose when travelling North or South, East or West. And it will be a beautiful journey as art and cultural critic <keyword id="2034192" type="UNKNOWN" weightage="60" keywordseo="Dave-Hickey">Dave Hickey</keyword> so rightly said – Beauty is and always will be blue skies and open highway. 
 
Image: Wikimedia Commons

8 Super Expressways
In North India That Fulfil Your Need For Speed

New Delhi, Jan 26 () The government plans to complete three of the 22 expressways and green corridors in the next three years, including the flagship Delhi Mumbai Expressway being built at a new alignment, Union minister Nitin Gadkari has said.
These 22 projects comprising 7,500 km of greenfield expressways and corridors are planned to be completed by FY25 at a cost of Rs 3.10 lakh crore.
"We will complete the flagship Delhi Mumbai Express Highway in the next three years. The work will be done in 51 packages and work has already been started on 18. This will be India's longest expressway at 1,320 km and will reduce travel time between Delhi and Mumbai from 24 hours to 13 hours," the road transport and highways minister said.
Of the projects, six are 2,250 km expressways to be built at a cost of Rs 1.45 lakh crore.
The remaining 16 are greenfield corridors, including 5,250 km projects to be constructed at a cost of Rs 1.65 lakh crore 
 Besides Delhi Mumbai Expressway, the minister said the trans-Rajasthan and trans-Haryana projects will be completed within the next three years.
About Delhi Mumbai Expressway, he said greenfield alignment has been selected to avoid habitation and optimise cost of land acquisition.
"We have saved about Rs 16,000 crore on land acquisition front alone as land could be acquired at a cost of Rs 80 lakh per hectare for the project," he said, adding that the expressway will unlock new economic opportunities in hinterland districts of Haryana, Rajasthan, Madhya Pradesh and Gujarat.
The expressway has been taken from concept to award in a record time-frame of less than a year.
He said the new projects will provide alternate routes to diversify traffic, improve geometry/alignment and provide connectivity for major towns, thereby reducing distance and travel times
Besides, these will mitigate issues like land acquisition, utility shifting and other clearances related to brown-field expansion of existing alignment and provide thrust to the economy of backward regions by improving infrastructure, the minister said. NAM ABM
ABM

Three expressways/green corridors to be completed in 3 yrs; 22 to be built at Rs 3 L cr: Gadkari

New Delhi, Feb 1 () To augment infrastructure, an accelerated highways development programme will be taken up that includes 9,000 kms of economic corridor and 2,500 kms of access-controlled highways, Finance Minister Nirmala Sitharaman said on Saturday.
 Besides, 2,000 kms each of coastal roads and strategic highways will be constructed, the finance minister said while presenting the Union Budget 2020-21 in Parliament.
 "Accelerated development of highways to be undertaken. This will involve construction of 2,500 kms of access-controlled highways, 9,000 kms of economic corridors, 2,000 kms of coastal roads, and 2,000 kms of strategic highways," she said.
 Sitharaman said the Delhi-Mumbai expressway will be completed in three years, in addition to two more express highway projects.
 Work will also start on the Chennai project, she said.
 Terming a sound highways network essential to propel the economy, the Economic Survey on Friday had said the highways sector needs Rs 19.63 lakh crore investment by 2024-25.
 Total investment in the roads and highway sector has gone up more than three times in the five-year period of 2014-15 to 2018-19, the Survey had said.
 Of about 59.64 lakh kms of roads in India, total length of National Highways was 1.32 lakh kms as on March 1, 2019.
 "The pace at which roads have been constructed has grown significantly from 17 km per day in 2015-16 to 29.7 km per day in 2018-19," it said.
 Road transport is the dominant mode of transportation in terms of its contribution to Gross Value Added (GVA) and traffic share.
 The share of transport sector in the GVA for 2017-18 was about 4.77 per cent, of which the share of road transport is the largest at 3.06 per cent, followed by railways (0.75 per cent), air transport (0.15 per cent) and water transport (0.06 per cent). NAM ABM

Highways development to be accelerated including 9k km eco corridor;Del-Mum expressway in 3 yrs: FM

New Delhi, Nov 28 () Lenders of <keyword id="6367819" type="ORGANIZATION" weightage="20" keywordseo="jaypee-infratech">Jaypee Infratech</keyword> on Thursday asked state-owned <keyword id="159757" type="COMPANY" weightage="20" keywordseo="NBCC">NBCC</keyword> Ltd to offer more land with clear title and debt-free Yamuna Expressway, while homebuyers want compensation for huge delay in completion of flats, sources said. NBCC and Mumbai-based <keyword id="599049" type="ORGANIZATION" weightage="20" keywordseo="Suraksha-Realty">Suraksha Realty</keyword> are in race to acquire Jaypee Infratech through insolvency proceedings. They submitted fresh bids on November 17 as per direction of the Supreme Court. A meeting of Committee of Creditors (CoC) was held here to negotiate with the two contenders. In the meeting, sources said bankers sought many clarifications from NBCC on its resolution plan and asked it to sweeten the bid.
 To settle an outstanding claim of nearly Rs 9,800 crore to bankers, NBCC has offered 1,426 acre land worth Rs 5,000 crore.
 That apart, it has offered 75 per cent of 858 acre land, which has been pledged by promoter Jaiprakash Associates Ltd and is likely to be transferred back to Jaypee Infratech.
 Moreover, NBCC will share 50 per cent of the sale proceeds of benami or unclaimed flats. From the sale proceeds, receivables from earlier buyers and any expenses related to tax/duties/ legal will be deducted.
 Yamuna Expressway, which connects Noida to Agra, will be transferred to lenders, but before that NBCC has proposed to take Rs 2,500 crore debt against the expressway for completion of over 20,000 flats in the next four years.
 During the meeting, bankers asked NBCC to provide more land with clear title and withdraw its offer related to benami flats and pledged land, the sources said.
 Lenders also asked that the expressway should be transferred to them without any debt obligation, they added.
 The NBCC official told bankers that their demand will be communicated to the top management.
 However, the NBCC official asserted that the public sector has already met all previous demands of lenders made in May, including the increase in land-debt swap deal to 1,426 acre from 950 acre.
 NBCC board could meet tomorrow to discuss the demand and finalise its resolution plan. The deadline for submission of final bid is December 3.
 Homebuyers representative demanded that delay compensation should be paid to home buyers as promised by Jaypee Infratech. The compensation for future delays should be as per realty law RERA.
 Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.
 Anuj Jain was appointed as an Interim Resolution Professional to conduct insolvency process and also manage the affairs of the company.
 In the first round of insolvency proceedings conducted last year, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders. The CoC rejected the bids of Suraksha Realty and NBCC in the second round held in May-June this year.
 The matter reached to the National Company Law Appellate Tribunal (NCLAT) and then the apex court.
 On November 6, the Supreme Court directed completion of Jaypee Infratech's insolvency process within 90 days and said the revised resolution plan will be invited only from NBCC and Suraksha Realty.
 As many as 13 banks and over 23,000 homebuyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For a bid to be approved, 66 per cent votes are required. Homebuyers claim amounting to over Rs 13,000 crore has been admitted.
 Meanwhile, Suraksha Realty has offered 1,934 acres worth Rs 7,857 crore to lenders. It has proposed to bring in Rs 2,000 crore as working capital to complete construction in the next three years and will retain the Yamuna Expressway with itself.
 The Mumbai-based developer has proposed to complete flats in the next three years. MJH BAL

NBCC and Mumbai-based Suraksha Realty are in race to acquire Jaypee Infratech

A look at Mumbai through Instagram’s eyes

<ul><li>Virgin <keyword id="6396317" type="PERSON" weightage="20" keywordseo="Hyperloop">Hyperloop</keyword> signs an intent agreement with the Government of Maharashtra. </li><li>The route shall extend from the <keyword id="2094" type="COMPANY" weightage="20" keywordseo="Pune">Pune</keyword> to <keyword id="6358070" type="COMPANY" weightage="20" keywordseo="Mumbai">Mumbai</keyword>, as well as Navi Mumbai International Airport. </li><li>Since the airport gates will be more accessible, the loop aims to ferry 150 million passengers every year.</li></ul> It’s wonderful to live in an age where sci-fi concepts can be turned into real-life projects. Cutting down 3 hours of travel time to just 25 minutes is something that you imagine only an aircraft can do. The Hyperloop project makes it possible on-ground. Not only is this surreal, but <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> could potentially be the first country to boast of a Hyperloop system in the entire world. Elon Musk’s brainchild, the futuristic transport system could be a reality in the next five to seven years. The <keyword id="182673" type="COMPANY" weightage="20" keywordseo="Virgin-Group">Virgin Group</keyword> just signed an ‘intent agreement’ with the Maharashtra Government to connect Pune to Mumbai using the Hyperloop transportation system. Currently, the trip takes three hours if you take the expressway, but with the Hyperloop in place, it won’t be more than 25 minutes. But what is Hyperloop and how can it claim to achieve such a feat? The wonder that is Hyperloop Hyperloop is basically an innovative transport system that uses magnetic levitation (maglev) to transport a pod on the surface through a sealed tube. It’s conceptualised that these pods should be able to reach speeds up to 1000km/hr. Originally designed by SpaceX and Tesla, the project was then made open-source so that anyone could build on it and utilise the <keyword id="6355118" type="ENTERTAINMENT" weightage="20" keywordseo="technology">technology</keyword>. The reason these pods will able to travel so fast is due to the application of the vactrain concept. These capsules will be shooting with a vacuum tube (airless) allowing for speeds that could theoretically go up to 1200km/hr. So far the main obstacle in building these routes has been the high cost of maglev and the difficulty of maintaining a steady vacuum over long distances. The <a href="https://www.digit.in/general/meet-hyperloop-india-the-team-building-a-hyperloop-pod-right-here-in-india-33957.html" data-type="tilCustomLink">Hyperloop India</a> team, when participating in the Hyperloop One Global Challenge said that it would be better to use aluminium rather than fibre to build the pods because it would be more scalable that way. The route will be fully electric but the project will only take off after a six-month in-depth feasibility study has been conducted. This is essential in order to define the route alignment, environmental impact, economic and commercial viability in line with the cost and funding models that will be applied. The <a href="https://www.businessinsider.in/Transport-Blogger-Ridicules-The-Hyperloop-Says-It-Will-Cost-A-Fortune-And-Be-A-Terrifying-Barf-Ride/articleshow/21939118.cms" data-type="tilCustomLink">critique</a> of Hyperloop is that the possibility of an unpleasant and frightening experience happening in a narrow, sealed and windowless capsule is high. Being subject to significant acceleration and high noise levels as the capsule reaches near sonic speeds leaves a lot of people apprehensive about its usability. <a href="https://www.theverge.com/2013/8/16/4626506/speed-bumps-and-vomit-are-the-hyperloops-biggest-challenges" data-type="tilCustomLink">Critics</a> even state that despite the tube intently to run as smoothly as possible, all it will take a slight shift in the ground due to seismic activity, and the minor deviation could result in considerable buffeting. Despite this, the Hyperloop India team claims that it shouldn’t be that different from riding in an aircraft. They maintain that there’s a difference between velocity and acceleration. Acceleration is what you feel as the plane takes off, but once you’re in the air, you hardly notice that you’re moving. Riding in a vacuum tube should be akin to that. Virgin Hyperloop and the Government of Maharashtra "We have signed an agreement with Maharashtra to build a Virgin Hyperloop between Mumbai and Pune, beginning with an operational demonstration track in the region," stated <keyword id="58954" type="PERSON" weightage="20" keywordseo="Richard-Branson">Richard Branson</keyword>, the Virgin Group chairman at the first day of the Magnetic Maharashtra investor summit in Mumbai. He added that "The proposed Hyperloop transportation system will transform the transportation system and make Maharashtra a global pioneer in the space. The socioeconomic benefits of the project is $55 billion (Rs. 3,54,750 crore),” claiming that the venture would create thousands of jobs. Details such as the project cost and a timeline are yet to be announced. Considering that the Hyperloop hasn’t yet become commercially operational anywhere in the world, India is competing against Dubai for the first spot. Branson maintains that the Pune-Mumbai route is the “ideal first corridor” as part of a national network that will be based entirely on Hyperloop technology. (Image courtesy: INMA/Jarle Naustvik)

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