Development Watch – Week #4 Mar’25

Development News

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1,300 Cr investment in Total Environment

HDFC Capital has partnered with Total Environment to develop new residential projects in Bengaluru. The strategic collaboration would add 6.5 million sq ft to their existing projects. The Rs 1,300-crore platform will deliver housing valued over Rs 10,100 crore in the next four to five years, addressing the demand for sustainable homes. HDFC Capital is the real estate private equity arm of HDFC group.

20% Growth rate in Agriculture after 2 years

India’s agricultural growth rate is projected to rise to 20% over the next two years. There is a need to make agriculture economically viable and job-generating. Currently 65% of the rural population engaged in agriculture is contributing only 12% to growth. Initiatives like green highways, port connectivity, and reducing logistics cost will boost the economy. Logistics cost needs to come down from 14-16% to 9%. Good roads and alternate fuels will ensure cost reduction, leading to increase in agriculture exports. By boosting the irrigation sector, more jobs can be created. 36 green highways are being built along with projects costing Rs. 3 lakh crore for port connectivity.

900 e-buses in 13 cities for e-bus Sewa Scheme

Chartered Speed is a bus passenger mobility firm based in Gujarat. It has secured a contract to operate over 900 electric buses, under the Pradhan Mantri e-bus Sewa Scheme. The company intends to supply and operate electric buses for intra-city travel across 13 cities in the states of Chhattisgarh, Rajasthan and in Meghalaya. Chartered Speed has bagged the contract to operate the buses by Convergence Energy Systems Limited (CESL). Chartered Speed will procure, operate and maintain these buses. The 13 cities include Raipur, Korba, Ajmer, Alwar, Bikaner, Bhilwara, Jaipur, Jodhpur, Kota, Udaipur, and Shillong. Currently, Chartered Speed operates a fleet of over 1,800 buses across Gujarat, Madhya Pradesh, Odisha and Assam.

Rs. 11,000 Cr deal for Amaravati Construction

Andhra Pradesh Capital Region Development Authority and HUDCO have signed a loan agreement for Rs. 11,000 Crores. The construction of greenfield capital city, Amaravati, will be monitored by CRDA. The decision was finalized at a board meeting of Housing and Urban Development Corporation (HUDCO) on January 22, 2025. Municipal Minister of Andhra Pradesh and HUDCO CMD were present during the signing of the agreement.

Railways to Invest Rs. 16.7 lakh crores in freight corridors

Indian Railways plans to invest Rs. 16.7 lakh crores by 2031 on infrastructure projects such as station upgrades. This will additionally cover high-speed rail corridors, and electrification of tracks. Key projects include redeveloping 1,309 stations and expanding dedicated freight corridors. There is private sector participation from major companies like L&T. The government is also focusing on development of new HSR corridors and additional DFCs to enhance logistics and reduce transportation costs. Two DFCs (Eastern and Western) have already been completed, while 3 more are in the pipeline. In 2025, budget outlay for railways has increased from Rs. 1.55 trillion in FY-21 to Rs. 2.65 trillion. This is a CAGR of 14%.

Alstom delivers 500 electric locomotives for Railways

Alstom has delivered the 500th fully India-made electric locomotive Prima T8-WAG12B to Indian Railways from its Bihar facility. The milestone is part of a 3.5 Billion Euro contract for 800 locomotives. It advances India’s rail modernization. With 12,000 HP and cutting-edge technology, these e-locomotives enhance freight efficiency. It also supports economic growth while embodying the ‘Make in India’ initiative. The e-locomotive was delivered from Alstom’s state-of-the-art manufacturing facility in Madhepura. The locomotives can haul heavy freight rakes, weighing approximately 6,000 tonnes at a speeds of up to 120 kmph. This projects is the largest FDI in India’s Railway Sector. Under the ‘Make in India’ initiative, the Madhepura facility has achieved 90% localization and 85% parts being sourced locally. The e-locomotives will help in efficient transport of key commodities like coal, cement, food grains, fertilizers, petrochemicals, minerals and parcels across India.

Green-Digital Shipping Corridor by Singapore and India

India and Singapore have signed a letter of intent focused on green and digital shipping corridor (GDSC). This agreement aims to promote adoption of zero-emission technologies and digital solutions. The partnership will be formalized with a MoU. India is charting a bold course for maritime with green ports and digital trade corridors. Uptake of zero or near-zero GHG emission technologies and adoption of digital solutions is part of the agreement. The Ports, Shipping and Waterways Minister visited Singapore with a high-level marine sector delegation. The ‘maritime week’ will see participation from 20,000 delegates and exhibitors globally. Under the LoI, both sides will collaborate on maritime digitalizaton and decarbonization projects.

Work to begin on Faridabad-Noida-Ghaziabad Expressway

The Haryana government has approved the construction of the Faridabad-Noida-Ghaziabad Expressway. This will aim to improve connectivity and reduce traffic congestion. This project includes a 600-meter bridge over the Yamuna River, with costs equally shared by Haryana and Uttar Pradesh. The expressway will provide the first direct link between Faridabad and Noida. It is part of Delhi-NCR region’s effort to speed up multiple projects aimed at enhancing expressway infrastructure and road connectivity. The new expressway is designed to facilitate smoother travel between Faridabad Noida and Ghaziabad. The project which was initiated by UP government more than 20 years ago, was on hold due to indecision by Haryana Government.

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