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World's most expensive project is worth Rs...., it is not Dubai's Burj Khalifa, the project is...

World's most expensive project is worth Rs...., it is not Dubai's Burj Khalifa, the project is...

India.com2 days ago

World's most expensive project is worth Rs...., it is not Dubai's Burj Khalifa, the project is...
From connecting biggest rivers to constructing modern Silk Route to setting up international space station – there are projects whose estimated cost take breath away from you.
With an aim to connect some of the biggest rivers of the country and to curtail floods and droughts., Prime Minister Narendra Modi had begun ambitious plan to connect some of the biggest rivers of the country. The cost was pegged at $87 billion or Rs 8,700 crores.
Belt and Road Initiative (BRI) aka One Belt One Road (OBOR) in China is estimated to be $900 billion or Rs 77,19,300 crores. It is Chinese President Xi Jinping's grand dream of a modern Silk Route. The plan, announced in 2013, aims to link several Asian countries and even parts of Europe with roads, railway and waterways. The idea is to facilitate free trade so that all countries benefit.
International Space Station is being planned to be built at a cost of $150 billion or Rs 12,86,550 crores. It basically making a home for the scientists in the space. Scientists live there for months conducting research, experiments and increasingly, enjoying mundane earthly joys such as watching World Cup football. Bathroom facilities are still not great, though. When Peggy Whitson, who returned to earth recently after a record-breaking 665 days (not consecutive), said the two things she most missed were pizza and flush toilets. The project was launched in 1998.
London Crossrail Project aka Elizabeth Line in United Kingdom at a cost of $23 billion. London is expanding its underground t rain system. New tunnels and tracks, which together are 73 miles long, have been built to connect 40 stations. The work started in 2012 and is proceeding smoothly, for the most part. The project was named after Queen Elizabeth in 2016.
The California High-speed Rail is a train network in California, which will link San Francisco to the Los Angeles basin. The 560 km trip — which takes close to six hours by road — will be done in a less than three hours on the proposed high-speed train. The cost is pegged at $70 billion and is expected to end by 2029.

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Rs 159.59 cr sanctioned for ROBs
Rs 159.59 cr sanctioned for ROBs

Hans India

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Rs 159.59 cr sanctioned for ROBs

Guntur: Union Minister of State for Rural Development Dr Pemmasani Chandrasekhar said the Union Ministry of Railways has sanctioned Rs 159.59 crore for the construction of Syamala Nagar and Sanjeevaiah Nagar ROBs. He made it clear that the Centre will bear full expenditure for the construction. In a statement, he said so far, the Union Ministry of Railways sanctioned ROBs at Sankar Vilas Centre, Gaddipadu, Pedaoalakaluru, Nandivulugu and Mangalagiri at a cost of Rs 572.47 crore. He said he met railway general manager Ajay Jain and thanked him for sanctioning Rs 572.47 crore for ROBs.

Fidelity marks up IPO-bound Lenskart's valuation to $6.1 billion
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Time of India

time37 minutes ago

  • Time of India

Fidelity marks up IPO-bound Lenskart's valuation to $6.1 billion

A fund managed by US-based Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart by over a fifth to $6.1 billion at the end of April 30, according to a monthly portfolio holdings update by the financial services major. This marks a 21% increase of the company's fair value in Fidelity's books compared to the $5 billion valuation at which it acquired the shares in June 2024 during a secondary transaction that also saw Singapore's Temasek join Lenskart's roster of blue-chip investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Crossover funds such as Fidelity, which invest both in publicly traded and privately held companies, periodically review the valuation of their portfolio companies. To be sure, the fair value of a company is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable peers. Since inception in 2010, Lenskart has closed nearly $2 billion in funding, including secondary deals. It is due to set up its largest eyewear manufacturing facility in Telangana with an investment of about Rs 1,500 crore. Live Events As reported by ET, the eyewear retailer is considering a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round as reported by ET. Earlier this month, Lenskart converted into a public company by changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. Lenskart had closed a $200 million secondary round last June at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and Fidelity. Separately, in July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. Previously, in March 2023, Lenskart had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, $450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at $4.5 billion. Lenskart bagged the top honour at The Economic Times Startup Awards 2024 . It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. The Gurugram- based company produces about 25 million frames and 30–40 million lenses annually. It operates over 2,500 stores across India and Southeast Asia in addition to a strong online presence. The company has yet to file financial statements for fiscal year 2025 with the Registrar of Companies.

Tribal villagers happy for sanctioning road
Tribal villagers happy for sanctioning road

Hans India

time42 minutes ago

  • Hans India

Tribal villagers happy for sanctioning road

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