#WeeklyNewsRoundUp: India To Have 1st Hyperloop System Between Mumbai & Pune

The Maharashtra government has entered into intent agreement with the Virgin Group to build a hyperloop transportation system between Mumbai and Pune. The hyperloop will reduce the travel time between the two megacities to 20 minutes from the three hours at present. The first hyperloop route will link central Pune with the megapolis as well as the Navi Mumbai international airport, the foundation stone for which was laid by Prime Minister Narendra Modi on February 18. The hyperloop route will be a fully electric system and will have the capability travel up to 1,000 km per hour.

***

The government has approved six rail projects at a cost of Rs 11,661 crore for new lines as well as doubling and electrification of tracks. The projects would cover 881 kilometre of lines in Uttar Pradesh, Madhya Pradesh, Bihar and Odisha. The projects are likely to be completed by 2022-23.

***

The Greater Hyderabad Municipal Corporation (GHMC) has listed its municipal bonds on the Bombay Stock Exchange’s debt platform. Earlier, the civic body had raised Rs 200 crore by selling the 10-year bonds, becoming the second civic body in the country to tap funds from this route this financial year after its counterpart in Pune. The GHMC is also planning to raise another Rs 800 crore through the bond market in the coming days.

***

Uttar Pradesh has signed 1,045 pacts worth Rs 4.28 lakh crore on the first day of the UP investors' summit, Chief Minister Yogi has Adityanath said. Stressing that the state was providing basic needs for investments such as law and order, infrastructure, power and roads, the CM said he would ensure an administrative setup which would be transparent and answerable. As the CM aims to improve regional connectivity, his state would see districts and tourism points getting better road infrastructure in the days to come. Pacts have also been signed to connect Purvanchal and Bundelkhand expressways with state’s industrial corridors.

***

The Punjab Real Estate Regulatory Authority (RERA) has decided to give one more chance to developers who had not applied for registration of their projects till December 31, 2017. The authority has asked such developers to submit applications for registration of their projects and avoid punitive action on payment of late fees to the tune of 100 per cent of the fees payable under Rule 3(4).

Source: Media reports