Construction companies shares rose after Prime Minister Manmohan Singh on June 06, 2012 laid out ambitious infrastructure development plans for the current fiscal year.
IVRCL (up 5.14%), NCC (up 4.31%), Patel Engineering (up 3.26%), Jaiprakash Associates (up 3.03%), Valecha Engineering (up 2.62%), Gammon Infrastructure Projects (up 2.42%) and HCC (up 0.54%)
Prime Minister Manmohan Singh has cracked the whip on various ministries to act on infrastructure projects. On Wednesday, as PM met various ministers including power, coal, aviation, shipping and road transport to take stock of the situation.
During this meet, he also set deadlines and targets for these ministries to issue tenders for three new airports and 9,500 kilometers of road projects.
Further he said that the government will award new airport projects in Navi Mumbai, Goa and Kannur. The government aims to return to 9% economic growth trajectory. The Prime Minister further said that there is a need of over $1 tn investment in core sector in next five years.
Manmohan Singh also said that new major ports will come up in Andhra Pradesh and West Bengal. “The government will add 18,000 mw power capacity this fiscal year.”
The glance on other major details of yesterday’s meet:
New international airports planned in Lucknow, Varanasi and Gaya.
Expeditiously resolve all inter-ministerial differences.
Plan bullet train from Mumbai to Ahmedabad.
To award elevated rail corridor project in Mumbai.
- Must work to create atmosphere conducive to investment.
Global economy is passing through difficult times
Happy that detailed exercise has been taken for infrastructure projects.
Aware of the need to give major push to crucial sectors.
Global economy passing through difficult times.
Committed to reverse present situation, revive growth story.
Targets we are setting are ambitious and impressive.
Have to act on multiple fronts to achieve targets.
Asks ministers to go the extra mile for implementing projects.
....more info
IVRCL (up 5.14%), NCC (up 4.31%), Patel Engineering (up 3.26%), Jaiprakash Associates (up 3.03%), Valecha Engineering (up 2.62%), Gammon Infrastructure Projects (up 2.42%) and HCC (up 0.54%)
Prime Minister Manmohan Singh has cracked the whip on various ministries to act on infrastructure projects. On Wednesday, as PM met various ministers including power, coal, aviation, shipping and road transport to take stock of the situation.
During this meet, he also set deadlines and targets for these ministries to issue tenders for three new airports and 9,500 kilometers of road projects.
Further he said that the government will award new airport projects in Navi Mumbai, Goa and Kannur. The government aims to return to 9% economic growth trajectory. The Prime Minister further said that there is a need of over $1 tn investment in core sector in next five years.
Manmohan Singh also said that new major ports will come up in Andhra Pradesh and West Bengal. “The government will add 18,000 mw power capacity this fiscal year.”
The glance on other major details of yesterday’s meet:
New international airports planned in Lucknow, Varanasi and Gaya.
Expeditiously resolve all inter-ministerial differences.
Plan bullet train from Mumbai to Ahmedabad.
To award elevated rail corridor project in Mumbai.
- Must work to create atmosphere conducive to investment.
Global economy is passing through difficult times
Happy that detailed exercise has been taken for infrastructure projects.
Aware of the need to give major push to crucial sectors.
Global economy passing through difficult times.
Committed to reverse present situation, revive growth story.
Targets we are setting are ambitious and impressive.
Have to act on multiple fronts to achieve targets.
Asks ministers to go the extra mile for implementing projects.
....more info