News in brief
The Lucknow metro-rail project will be on track in three years, announced chief minister Akhilesh Yadav at the foundation stone laying ceremony of the project. In the first phase, North South metro corridor from Amausi Airport to Charbagh (approx 23 km) is to be constructed. LMRC, a special purpose vehicle, had been registered under the Companies Act to execute metro-rail project in city. Officials assured that construction work would begin soon.
The government is likely to consider a proposal for setting up a company, National Highways Construction Company Ltd, for building roads in border areas and northeastern regions. The Cabinet recently approved a proposal to set up a new company for building roads in border areas and in the north eastern region of the country. The government may put in close to `30 crore capital initially in the company.
Gulf Finance House has signed two agreements with Adani Infra and Wadhwa Group for real estate development in India. The project is to be carried out on an area of 1,200 acres. GFH and Wadhwa will appoint Hafeez Contractor as the master planner for Phase 1. In a second agreement, GFH and Adani Infrastructure will work together to explore opportunities in infrastructure and real estate projects in India.