World's second longest ropeway project to begin in Shimla in March 2025

05 Sep 2024 CW Team

Himachal Pradesh is set to construct a 13.79 km ropeway in capital Shimla, making it the world鈥檚 second longest and the first in India and Asia to connect 15 stations.

The project construction, aimed at decongesting Shimla, will commence in March 2025, Mukesh Agnihotri, Deputy Chief Minister, Himachal Pradesh, said.

This ambitious project, costing Rs.17.34 billion, is poised to transform urban transportation in the region. The ropeway fare will be different for locals and tourists to ensure affordability, without imposing an additional burden on the public.

The Shimla Ropeway Project will be financed by an 80 per cent loan from the New Development Bank with the remaining 20 per cent contributed by the state government.

The ropeway will initially have the capacity to transport 2,000 persons per hour, increasing to 6,000 for two-way travel by 2059. The project is expected to provide direct employment to 250 people and indirect employment to over 20,000 people.

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..