Relief in sight for KCBT commuters as railway station to start operations from July
CHENNAI: Bus commuters facing hardship in accessing the Kilambakkam Kalaignar Centenary Bus Terminus (KCBT), located 25-30km from Chennai city, can expect relief soon. The Chennai Railway Division plans to commence operations at the Kilambakkam railway station from the first week of July.
Divisional Railway Manager B Vishwanath Eerya told TNIE that one platform has been completed along with shelters. 'Work on another platform will be completed within 30 days. A temporary ticket office will also be set up. Train stoppages are expected to begin in the first week of July. However, the state government should finish the foot overbridge (FOB) construction beforehand. Allowing trains to stop before that could pose a safety risk to commuters,' he said.
Besides, officials from the Chennai Metropolitan Development Authority (CMDA) confirmed that the issues surrounding the acquisition of 1.45 acres of land near the Kilambakkam railway station have been resolved.
Construction of a 450-metre pedestrian skywalk, which will connect KCBT to the railway station across GST Road, is expected to resume shortly. The proposed FOB will also connect to GST Road with ascending and descending escalators, effectively eliminating the need for pedestrians to cross the busy roadway.
The land-owning company, Premier Leather Corporation, has recently submitted a No Objection Certificate (NOC) to the state government to carry out the skywalk construction while land acquisition was under way. However, construction of the FOB could not resume immediately, as minor design modifications were required to comply with the Research Designs and Standards Organisation (RDSO) guidelines, as recommended by Southern Railway.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
a day ago
- Mint
NSE IPO: Why investors should contain excitement amid delays?
While SEBI's recent comments have rekindled hopes around the long-delayed National Stock Exchange (NSE) IPO, market experts caution that optimism must be tempered with realism. Several regulatory and legal hurdles still stand in the way of what could be one of India's most consequential public offerings. The NSE IPO has long been a topic of anticipation and speculation. First proposed in 2016 with an aim to sell a 22 percent stake and raise ₹ 10,000 crore, the offering has yet to materialize due to the absence of a mandatory No Objection Certificate (NOC) from the Securities and Exchange Board of India (SEBI). This certificate is crucial for the exchange to formally proceed with its draft red herring prospectus (DRHP) and begin the listing process. Recent developments, however, have reignited interest in the IPO. SEBI Chair Tuhin Kanta Pandey's comment that the 'NSE IPO application is not something that cannot be sorted' has been interpreted by many as a soft green light for the long-pending listing. In response, unlisted shares of NSE have surged over 60 percent in recent weeks, trading between ₹ 2,380 and ₹ 2,419 apiece, according to unlisted stock platforms. The price spike in NSE's unlisted shares reflects high investor expectations that the IPO is imminent. But market veterans urge caution. Trivesh D, COO of Tradejini, said: 'NSE's listing is long overdue, especially considering it first approached SEBI back in 2016. Given its dominant global position in derivatives and strong business fundamentals, going public is a natural step. A listing would not only enhance transparency and deepen governance but also set a benchmark for capital markets infrastructure in India. The recent rally in unlisted NSE shares shows strong market sentiment, although regulatory caution must still be factored in. Investors should not expect immediate action.' The excitement is also being fed by reports that NSE is exploring a settlement with SEBI—potentially worth ₹ 1,000 crore—to clear legacy regulatory issues. While that may fast-track the approval process, there's no formal confirmation of acceptance from the regulator yet. During the May 7 earnings call, NSE MD and CEO Ashishkumar Chauhan addressed the IPO in detail. He confirmed that NSE had responded to SEBI's February 28 communication and formally requested the long-pending NOC. However, Chauhan acknowledged that major regulatory gaps remain. For instance, SEBI has yet to issue clear directives around the disinvestment of clearing corporations—an area critical to exchanges like NSE. Additionally, unresolved issues around key managerial personnel (KMP) salaries could complicate the IPO timeline. 'While we've responded to SEBI's queries, the process doesn't end there,' Chauhan said. 'We await regulatory guidance on clearing corporation disinvestment and compensation norms. These are important aspects that could influence not just the IPO's timing but its structure as well.' Legal issues are another area of concern. NSE remains involved in cases currently pending before the Supreme Court, and while Chauhan said all such matters would be disclosed in the DRHP, the potential for further delay cannot be ruled out. SEBI's September 2024 order offered partial relief to NSE by clearing former executives, including ex-CEOs Chitra Ramkrishna and Ravi Narain, of any wrongdoing in the infamous 2019 co-location case. However, the order did highlight governance lapses and inadequate oversight, particularly around server access. While these findings may not pose a direct legal obstacle anymore, they do underscore the need for stricter regulatory scrutiny. SEBI has signaled greater openness to listed exchanges in recent years, but only if adequate safeguards and conflict-of-interest frameworks are in place. This could mean additional compliance requirements for NSE before the IPO gets the green light. The NSE IPO remains one of the most anticipated events in India's capital market history, and recent developments have certainly moved the process closer to realization. However, regulatory bottlenecks and legal challenges continue to stand in the way of immediate progress. Investors must tread carefully. While the surge in unlisted shares reflects genuine enthusiasm, it may not align with the pace of regulatory approvals or legal resolutions. Until SEBI issues the much-awaited NOC and provides clarity on structural issues like clearing corporation disinvestment, the road to listing remains uncertain. For now, the best approach is to stay informed, watch for official updates, and avoid overcommitting based on speculation. In the words of market watchers: the NSE IPO may be coming—but not as soon as the rally suggests. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
2 days ago
- New Indian Express
12 firms file applications for small hydel projects, five under evaluation: TNGECL
CHENNAI: A couple of months after the Tamil Nadu Green Energy Corporation Limited (TNGECL) invited applications to develop Small Hydel Projects (SHPs) in the state, the agency has so far received 12 proposals from private developers, officials said. The capacities of each of these SHPs, which can be set up across canal systems, rivers and streams without having to build any structures for storing the water, can range from 100 kilowatts (KW) to 10 megawatts (MW), with each unit in an SHP not exceeding 5 MW. TNGECL managing director Dr Aneesh Sekhar told TNIE that the government is encouraging private participation in SHPs to boost renewable energy production. 'Of the 12 proposals, five are currently under evaluation. However, no project has been finalised yet. Approvals will be granted after detailed evaluation and site inspections,' he said. While TNGECL has not completed any SHPs so far, a 20 MW project is nearing completion in Namakkal district. 'Most of the work is over and the plant will begin power generation soon,' Sekhar added. Tamil Nadu had released a policy for SHP late last year. 'Based on the policy, we are now processing applications. Private firms with access to water sources can apply to set up these plants,' another senior official said. He said the firms can generate power for their own use (captive use), sell it to third parties within the state, or supply to distribution companies to help meet the Renewable Purchase Obligation (RPO) targets set by the Tamil Nadu Electricity Regulatory Commission (TNERC). While the RPO set for 2024-25 was 29%, Tamil Nadu managed only around 26 %. The state has an installed hydropower capacity of 2,321.90 MW, but SHPs have so far received limited focus. In contrast, neighbouring Karnataka is actively promoting such projects, the official added.
New Indian Express
2 days ago
- New Indian Express
Southern Railway drops plan to cut sleeper coaches on Nellai, Podhigai Express after backlash in Tamil Nadu
CHENNAI: Following stiff opposition from passengers and several political parties, Southern Railway on Tuesday scrapped its proposal to reduce the number of sleeper coaches on the Chennai-Tirunelveli Nellai Express and the Chennai Egmore-Sengottai Podhigai Express. However, the revised coach compositions for other trains, including the Chennai-Coimbatore Cheran Express and Chennai-Mettupalayam Nilgiris Express, will proceed as planned. An order from the transportation branch of the Madurai railway division confirmed that the existing coach configurations for the Nellai and Podhigai Express trains — comprising 8 sleeper coaches, 5 AC three-tier coaches, 2 AC two-tier coaches, and 1 first-class AC coach — will remain unchanged. The earlier proposal had suggested reducing sleeper coaches from 8 to 7 and increasing the number of AC three-tier coaches from 5 to 6, which stands cancelled, revealed the order issued by the Senior Divisional Operational Manager of the Madurai division. On Tuesday, TNIE published a report highlighting how the proposed change would have reduced the availability of sleeper class berths while increasing the number of higher-fare AC berths. Earlier in the day PMK president Anbumani Ramadoss had strongly criticised the railways' decision to reduce the number of sleeper coaches.
