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Railway To Invest New Tracks Beyond Agartala



Indain Railway

Agartala, January 12: The Northeast Frontier Railway (NFR) has invested around Rs 1,000 crore to extend the railway line beyond Tripura capital Agartala and up to the state’s southern temple city Udaipur, a top official said here on Thursday.

The NFR would start two pairs of passenger train services on the newly constructed Agartala-Udaipur route from January 20, fulfilling the long-pending demands of the people of southern Tripura.

According to NFR’s Chief Public Relations Officer Pranav Jyoti Sharma, the passenger trains would run six days a week, except on Sundays.

“The NFR has invested over Rs 1,000 crore to extend the 44.76-km railway lines up to Udaipur (district headquarters of Gomati district). We have completed laying of railway tracks up to Udaipur before schedule of March 2017,” NFR Chief Engineer Harpal Singh told IANS over phone from Guwahati.

He said: “The railway line would be extended up to south Tripura district headquarters Belonia by this year end or early next year. By March 2019, southern Tripura’s last border town Sabroom would be connected by railway network.”

Singh said that two major tunnels would be constructed for the Belonia and Sabroom lines.

The Indian government has been extending railway line up to Tripura’s border town Sabroom to get access to Bangladesh’s international Chittagong sea port, which is just 75 km from Sabroom.

Tripura Chief Minister Manik Sarkar said: “After the Indian Railways extends its rail line up to Sabroom, it would be very easy to connect with the Chittagong international sea port in southeast Bangladesh.”

“After extending the railway line to Sabroom, Tripura and the entire northeast India would be linked with southeast Asia very easily,” Sarkar told IANS.

The extension of the erstwhile metre-gauge track up to Agartala brought Tripura capital city on India’s rail map in October 2008. Subsequently the metre-gauge track was converted into broad-gauge track.

The long-awaited passenger train services between Agartala, New Delhi and Kolkata began on July 31 and October 8 last year respectively.

NFR Chief Engineer Singh said that the single track 227-km metre-gauge link — Badarpur (south Assam) to Agartala — was converted into broad-gauge track earlier last year at a cost of Rs 2,016 crore.

The NFR is now laying a broad-gauge track for the 112-km Agartala-Sabroom line — to be completed by March 2019 — at a cost of Rs 3,351 crore.

Sabroom, 135-km (by traditional road) south of Agartala, is southern Tripura’s border town adjoining Bangladesh.

Meanwhile, the NFR has already undertaken work to lay a 15-km rail track to connect Agartala with Bangladesh’s railway station Akhaura, an important rail junction there.

Railway Minister Suresh Prabhu and Bangladeshi Rail Minister Majibul Haque jointly laid the foundation stone here on July 31 last year for Agartala (India) – Akhaura (Bangladesh) railway project.

Wefornews Bureau

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Dubai’s Meraas eyes Indian buyers for premium residences



Dubai's Meraas Residence at Bluewaters Photo Credit :

Hyderabad: Property investors and high net worth Indians can now own premium residences in Dubai with Meraas, a Dubai-based holding company, marketing its new venture ‘Bluewaters’ in India through Australia’s Raine & Horne.

The company at its roadshows in Hyderabad, Delhi and Mumbai is offering a flexi payment plan for those looking to buy the residential units in the project coming up on manmade island off the Jumeirah beach residence coastline in Dubai.

The project comprises 698 one to four bedroom apartments, four penthouses and 17 villas with price ranging from about Rs 3.5 crore (for a one-bed room apartment) to Rs 70 crore (penthouse).

Raine & Horne, a global services company based in Australia, will begin the marketing in India with first roadshow here on March 25 and 26.

Sanjay Chimnani, Managing Director of Raine and Horne Dubai told reporters that they expect to sell 100 units at the roadshows in the three cities.

“This is high-end big size products priced reasonably. We are targeting all those who can afford to pay Rs 75 lakh upfront,” he said.

The company is offering four-year payment plan with zero percent interest. The customers can book the units by paying 10 percent of the cost. They have to pay another 10 percent at the time of delivery in October and 5 percent every four months.

With 9 to 10 percent growth in rental income, the investors can pay the installment with their earnings from the rent, he said.

Indians in Dubai are among biggest foreign investors in Dubai’s real estate. Quoting Dubai’s land records department, he said people of Indian nationality purchased real estate worth Rs 30,000 crore in 2017, up from about Rs 22,000 crore the previous year.

“This number is going to grow further with Dubai’s population expected to be doubled by 2030,” he said.

The freehold area, where expatriates are allowed to buy property, has 250,000 units while another 170,000 are expected to be added in next five years.


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Equity indices open lower, Nifty50 slips below 10k mark




Mumbai, March 23: Key Indian equity indices on Friday opened on a subdued note following a global sell-off, with the Nifty50 of the National Stock Exchange (NSE) slipping below the 10,000-level.

At 9.16 a.m., the Nifty50 — which opened at 9,968.80 points — declined by 120.20 points or 1.19 per cent to trade at 9,994.55 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32650.89 points, traded at 32641.91 points — down 364.36 points or 1.10 per cent from the previous session’s close.

The BSE market breadth was bearish with 1,398 declines and 122 advances.

Heavy selling pressure was observed across all sectors led by banking, metals, auto, capital goods and consumer durables stocks.

On Thursday, negative cues on the back of global protectionist measures, higher interest rates in the US and hike in crude oil prices, along with selling pressure in banking, auto and capital goods stocks depressed the key indices.

The Nifty50 fell by 40.50 points or 0.40 per cent to close at 10,114.75 points while the Sensex closed at 33,006.27 points — down 129.91 points or 0.39 per cent.


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Equities close lower on global cues, selling pressure



Mumbai, March 22: Key Indian equity indices provisionally closed on a lower note on Thursday as negative European markets, along with selling pressure in banking, auto and capital goods stocks, suppressed investors’ sentiments.

The key indices had opened on a higher note after the US Federal Reserve raised the benchmark interest rate by 25 basis points, signalling two more rate hikes in 2018.

The wider Nifty50 of the National Stock Exchange (NSE) fell by 40.50 points or 0.40 per cent to provisionally close at 10,114.75 points (at 3.30 p.m.).

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,206.99 points, closed at 33,006.27 points — down 129.91 points or 0.39 per cent from the previous session’s close.

The Sensex touched a high of 33,281.77 points and a low of 32,963.31 points during the intra-day trade.

The BSE market breadth was bearish with 2,010 declines and 709 advances.

On Wednesday, value buying pushed the key indices higher even as some gains were ceded on caution ahead of the US Federal Reserve’s FOMC (Federal Open Market Committee) meet.

The Sensex closed the day’s trade at 33,136.18 points — up 139.42 points or 0.42 per cent — while the Nifty50 gained 30.90 points, or 0.31 per cent, to close at 10,155.25 points.


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