Anand Mahindra shares night view of Mumbai Trans Harbour Link, says ‘can’t wait to drive on golden ribbon’ – WATCH Mahindra Group Chairperson Anand Mahindra shared a captivating nighttime view of the Mumbai Trans Harbour Link (MTHL) on X (formerly Twitter) and expressed anticipation for driving on the sea bridge. Referring to the sea bridge as a ‘golden ribbon’, Mahindra commended the commitment of hardworking engineers contributing to enhanced connectivity and commerce through the project. “Connectivity & Commerce will be enhanced through the Commitment of hard-working, talented engineers. Can’t wait to drive down this ‘golden ribbon’,” he tweeted. Costing Rs 18,000 crore, the MTHL spans 21.8 kilometers and features a six-lane design, connecting Sewri in Mumbai to Nhava Sheva in Uran taluka, Raigad district. Comprising a 16.50-kilometer stretch over the sea and a 5.5-kilometer segment on land, the sea link is expected to significantly reduce travel time between Mumbai and Navi Mumbai to just 20 minutes, compared to the current 2-hour journey. The project is named Atal Setu in honor of former Prime Minister Atal Bihari Vajpayee. Built over a span of seven years under the supervision of the Mumbai Metropolitan Region Development Authority (MMRDA), the Mumbai Trans Harbour Link is designed with a lifespan of a century. The infrastructure includes three interchanges, facilitating connections to diverse highways and roads. According to the MMRDA’s quarterly progress report, the MTHL anticipates a substantial surge in traffic, starting from 39,300 passenger cars in its inaugural year and projecting to accommodate approximately 1.03 lakh cars by the year 2032. Commencing construction in 2018, the MTHL faced an eight-month delay due to the COVID-19 pandemic, extending the anticipated opening timeline from the initially expected 4.5 years.
Through the funds raised as a part of the fresh issue of equity shares, Paradeep Phosphates plans to part-finance the acquisition of the Goa Facility and repayment/prepayment of certain of the borrowings.
However, that doesn’t take into account the fact that geopolitical tensions on the Middle East are undeniably rising again which will mean limited downside.”
In the U.S., oil drilling rigs were up by one at 501 last week, Baker Hughes said in its weekly report.JPMorgan forecasted 26 oil rigs to be added this year, most of them in the Permian during the first half of the year.
“The timing of drilling is paramount, as rig additions at the start of the year will contribute to 2H24 production growth,” the bank’s analysts said in a note.
“Despite an impressive 1 mbd of crude and condensate production growth in 2023, we expect 2024 supply to increase by only 400 kbd due to lower completions activity levels vs 2023.”