India to remain fastest growing economy

The International Monetary Fund has projected a growth rate of 7.3% in 2018 & 7.5% in 2019 for India as against 6.7% in 2017. The latest growth rate projection for India is slightly less 0.1% in 2018 and 0.3% in 2019 than its April projections. According to IMF, India will remain the fastest growing major economy in 2019.

1st land-based comm. link between Pak and PRC

An optical fiber cable project that would be the first land-based communication link between China (PRC) and Pakistan has been launched. It will help develop the telecom sector in the Gilgit-Baltistan region and enhance the security of the China-Pakistan Economic Corridor. The project includes an 820-km-long underground optical fiber cable from Rawalpindi to Khunjerab.

World’s cheapest clean drinking water

With the launch of the cost-effective innovative water project, Bihar will soon provide the cheapest drinking water in the world. The first of such project was launched in Bihar’s Darbhanga district, by Sulabh International. With the help of this project, people will be able to get clean water in 50paisa/litre. The project converts contaminated pond & river water into safe drinking water.

L&T to build ‘tallest’ govt. office building

Larsen & Toubro (L&T) has bagged a construction project to build govt office building at Amaravati, Andhra Pradesh. The office will be the tallest government office building in India. The buildings will house the headquarters of the various government departments of Andhra Pradesh. The project has to its credit of being the 1st Steel Diagrid project with Automatic Climbing Formwork System.

AAI partners with govt for Dholera Airport

The Airport Authority of India (AAI) to partner with the government of Gujarat to build the ` 2,000 crore Dholera airport project. The airport will be the biggest upcoming greenfield city in India under the Delhi-Mumbai Industrial Corridor (DMIC) project at Dholera will be built in four years. Equity participation between AAI & the govt of Gujarat will be 51% and 49%, respectively.

Gadkari inaugurates projects in Vizag

13 : Nitin Gadkari, Minister of Shipping, Road Transport & Highways will inaugurate five port projects worth Rs 1062 Crores in Vishakhapatnam (Vizag). The major project to be inaugurated includes upgradation of existing iron ore handling facility at Outer Harbour of Vizag Port at a cost of ` 580 Crores. This will enhance the capacity of Vizag port under Sagarmala Project.

Seema Darshan project

Gujarat CM Vijay Rupani has approved the ` 39 Cr Seema Darshan project for developing more infrastructure facilities at Nadabet near Suigam in Banaskantha district. The project is being developed on Wagah Border pattern & entails a parade ground with an amphitheatre. The project will encourage local economic activity in the Rann region & tourists can have a good view of the coastline.

ADB approves USD 503 mln lining project

The Asian Development Bank (ADB) has approved USD 503-million lining project of the Son canal in Shahabad-Bhojpur region of Bihar. This project will bring immense benefits to the agriculture sector of Shahabad Bhojpur region of Bihar. The estimated cost of this project is USD 503 million out of which USD 352 million is being provided by ADB.

‘CITIIS’ Challenge Announced by MoHUA

The Ministry of Housing and Urban Affairs (MoHUA) announced a new ‘Cities Investment To Innovate, Integrate and Sustain’ (CITIIS) challenge to identify top projects in 15 of the 100 selected smart cities. The projects will receive an additional funding of approximately ?80 crore each. The new funding will be financed by a €100 million loan from the French government.

China pledges 20 bn in loans for Arab states

China will provide Arab states with $20 billion in loans for economic development, as China seeks to build its influence in Middle East. The money will be earmarked for projects that will produce employment opportunities & positive social impact in Arab States. China is also prepared to provide another 1 billion yuan to countries in the region to build capacity for stability maintenance.