इंडियन आवाज़     21 Feb 2024 03:10:24      انڈین آواز
FreeCurrencyRates.com

Govt approves highway projects worth Rs 9500 cr

Clears Glenmark, Aurobindo proposals

The Cabinet Committee on Economic Affairs (CCEA) has approved the four-laning of the Sultanpur-Varanasi section of National Highway-56 in Uttar Pradesh. This will substantially upgrade Varanasi’s connectivity to Lucknow and other parts of Central UP. The project will cost around Rs 3,800 crore on this 138 kilometer long stretch of the Highway. The CCEA also gave its approval to the four laning of the Varanasi to Ghazipur, Gorakhpur and further to Nepal section of National Highway-29 in the state.

highway-roadThis is likely to improve regional connectivity and facilitate improved movement of people and goods in the region and across the border. The four laning of this 200 kilometer will have a cost of around Rs 4,400 crore. In an another decision, the CCEA gave its nod to the four laning of the Madurai-Ramanathapuram section of National Highway – 49 in Tamil Nadu.

The project will cost approximately Rs 1,400 crore. The CCEA also approved two significant foreign investments in the pharmaceutical sector, leading to investment worth rupees Rs 4,187 crore in Aurobindo Pharma and Glenmark Pharmaceuticals limited. Aurobindo Pharma, which is engaged in manufacturing generic pharmaceuticals and active pharma ingredients, has been given the nod for qualified institutional buyers to infuse fresh equity of up to seven per cent amounting to about Rs 2,165 crore into the company.

The existing foreign institutional investment (FII) shareholding in Aurobindo is at 27.32 per cent. This will enable the company to expand its operations in the areas of anti infective, cardiovascular and central nervous system related ingredients.

Glenmark Pharmaceuticals has been given the nod for increasing the foreign investment limit by FIIs from 35.07 per cent to 49 per cent. This will result in an inflow of about Rs 2,022 crore.

Apart from manufacturing pharmaceuticals, the company is also engaged in Research and Development activities in drugs.

Leave a Reply

Your email address will not be published.

خبرنامہ

مسلم تعلیمی اداروں میں غیر مسلم طلبہ کی اکثریت، رپورٹ

جاوید اختر ایک تحقیقاتی رپورٹ کے مطابق ہندوستان میں مسلما ...

وزیر اعظم نریندر مودی نے دوحہ میں قطر کے امیر شیخ تمیم بن حمد الثانی کے ساتھ باہمی میٹنگ کی

وزیراعظم نریندرمودی نے آج دوحہ میں قطر کے امیر شیخ تمیم بن حم ...

MARQUEE

Singapore: PM urges married Singaporean couples to have babies during year of Dragon

@leehsienloong AMN / WEB DESK Prime Minister of Singapore Lee Hsien Loong has urged married Singaporean ...

Himachal Pradesh receives large number of tourists for Christmas and New Year celebrations

AMN / SHIMLA All the tourist places of Himachal Pradesh are witnessing large number of tourists for the Ch ...

Indonesia offers free entry visa to Indian travelers

AMN / WEB DESK In a bid to give further boost to its tourism industry and bring a multiplier effect on the ...

MEDIA

Provisions for Media Coverage, Media Facilities and Health Preparedness for Pran Pratishtha

WEB DESK Elaborate Arrangements are being made for the smooth and successful conduct of the consecratio ...

Former Principal Information Officer in PIB, N J Krishna passes away

AMN Former senior Indian Information Service officer N J Krishna passes away in Noida. She was 81. She ...

GOVERNMENT AWAAZ

Governments ‘s aim is to provide jobs to 10 Lakhs Youth in Government and PSU, says Prahlad Joshi

@JoshiPralhad Union Minister of Parliamentary Affairs Prahlad Joshi said governments 's aim is to prov ...

Prices of essential commodities are under control: Govt

AMN / WEB DESK The Government has said that prices of essential commodities like Sugar, Wheat, Rice and Edi ...

@Powered By: Logicsart