financetom
Business
financetom
/
Business
/
Amid surging costs, Karnataka to expedite nine railway projects
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amid surging costs, Karnataka to expedite nine railway projects
Nov 11, 2021 6:27 AM

Karnataka will fast track nine railway projects that have been languishing since 2007 on priority as costs of these projects have almost doubled and are putting a burden on both the state and central governments.

Share Market Live

NSE

“We have decided to fast-track these projects. Within 15-20 days, land acquisition and other hurdles will be cleared in a time bound manner,” Karnataka infrastructure development minister V Somanna said on Wednesday.

The state is in discussion with the Indian Railways authorities on expediting work, which will speed up from tomorrow, the minister said.

The costs of four of the nine projects have seen a 95 percent hike from Rs 4,446 crore to Rs 8,683 crore. The state shares 50 percent burden of the cost of these projects.

According to Somanna, who reviewed the infrastructure development department on Wednesday, cost of the pending Tumakuru-Rayadurg line has surged from Rs 479 crore to Rs 2,432 crore.

Apart from this, the Ginigera-Raichur project cost rose from Rs 1,350 crore to Rs 2,565 crore, Bagalkot-Kudachi line costs surged from Rs 816 crore to Rs 1,525 crore and the Tumakuru-Chitradurga-Davangere project cost rose from Rs 1,801 crore to Rs 2,161 crore.

Other than these four, the state will also focus on expediting the Munirabad-Mehaboobanagar project, Gadag-Wadi line, Shivamogga-Shikaripura-Ranebennur line, Chikkamagaluru-Belur project and Belur-Hassan project.

Another railway line between Dharwad and Belagavi is yet to start.

“The state government is releasing our share of funds. Once the Centre releases its share at the earliest, minor land-related issues that were being used as an excuse for the delay will be resolved,” Somanna said, adding that nearly 56 overbridges and underbridges were pending in places like Bengaluru and Tumakuru.

The state plans to complete the projects as much as possible within this fiscal. “We will review them once every month,” the minister said.

Apart from railway projects, the state is also focussing on new airports at Raichur, Shivamogga, Hassan, Vijayapura, and Karwar, Somanna said, adding that the Shivamogga airport will be commissioned before 2022.

(Edited by : Anshul)

First Published:Nov 11, 2021 3:27 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Looking At Super Micro Computer's Recent Unusual Options Activity
Looking At Super Micro Computer's Recent Unusual Options Activity
Nov 5, 2024
Financial giants have made a conspicuous bullish move on Super Micro Computer ( SMCI ). Our analysis of options history for Super Micro Computer ( SMCI ) revealed 103 unusual trades. Delving into the details, we found 42% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 83 were puts, with a value...
Apollo Global Management Stock Climbs After Company Beats Q3 Estimates
Apollo Global Management Stock Climbs After Company Beats Q3 Estimates
Nov 5, 2024
Apollo Global Management Inc. ( APO ) shares are trading higher Tuesday after the company reported better-than-expected financial results for the third quarter. Here’s what you need to know. What To Know: Apollo’s third-quarter adjusted earnings per share came in at $1.85, surpassing analyst estimates of $1.72. The company's revenue reached $7.77 billion in the quarter, beating the expected $4.13...
What's Going On With Celanese Stock Tuesday?
What's Going On With Celanese Stock Tuesday?
Nov 5, 2024
Celanese Corporation ( CE ) shares are tumbling on Tuesday after the company reported worse-than-expected third-quarter financial results and announced it intends to temporarily reduce its quarterly dividend. What Happened: Celanese reported third-quarter adjusted earnings per share of $2.44, missing analyst estimates of $2.85. The company reported sales of $2.65 billion, missing analyst estimates of $2.7 billion, according to Benzinga...
--Moderna's Bancel Steps Down as Sales Chief, Keeps CEO Post, Bloomberg Reports
--Moderna's Bancel Steps Down as Sales Chief, Keeps CEO Post, Bloomberg Reports
Nov 5, 2024
12:58 PM EST, 11/05/2024 (MT Newswires) -- Price: 52.37, Change: -1.17, Percent Change: -2.19 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved