Thursday, October 19, 2017

TICKER TAPE: CONSTRUCTION

L&T BAGS RS 1981 CR REALTY ORDERS

 

EPC major Larsen & Toubro has won a residential development contract collectively totally worth Rs 1981 crore.  The scope of work involves civil, structural, mechanical, electrical, plumbing and finishing work for 24 towers and 271 villas for a real estate develop in Bengaluru. The towers will have two basement levels and will range from 18 and 29 storeys. The project is scheduled to complete in 42 months. Another project relates to a residential township in Gujarat involving turnkey construction of 134 housing units.

 

 

RS 15,000-CR JAP LOAN FOR PROJECTS

 

A Rs 15,000-crore official development assistance loan has been offered by the Japanese ODA for five projects in the country including expansion of the Delhi Metro  This is the largest amount ever signed on a single occasion.  Out of the total amount Rs 8,933 crore has been allotted to Phase 3 of the Delhi Mass Rapid Transport System Project to extend the metro’s existing 190 km radially developed transportation network capacity to 329.4 km. The extension is expected to transform Delhi Metro into a global standard urban transportation system comparable to the Tokyo metro.

 

 

ROAD AND BRIDGE ORDERS FOR SUPREME

 

Supreme Infrastructure has bagged three contracts collectively worth Rs 617.7 crore for various construction works in Maharashtra and Bihar. The major one relates to the two-laning of Chhapra-Rewaghar-Muzaffarpur section of NH-102 in Bihar costing Rs 337 crore for the National Highway Authority of India (NHAI). The company will also take up an order worth Rs 237 crore from Brihanmumbai Municipal Corporation for improvement of various roads with flexible pavements. There is also a Rs 43.7 crore order it has bagged from the City and Industrial Development Corporation for construction of a road-over-bridge on the Nerul-Uran railway line.
 

 

MUMBAI METRO III WORK ON CONTRACT BASIS

 

Construction for Metro III, the underground line in Mumbai connecting Seepz with Colaba, is expected to start from January 2015 following the award of work on a contractual basis. The Maharashtra state government is expected to float tenders in July. The decision has been taken following the government’s displeasure with Reliance  which is developing Metro I connecting Ghatkopar and Versova. It is reported the firm had asked for a fare hike even before the work had started on the plea of cost escalation. The 32.5-km Colaba-Bandra-Seepz underground stretch is expected to cost over Rs. 23,000 crore. The MMRC has received pre-qualification bids from 14 consortiums which includes Afcons-KMB, CEC-ITDCEM-TPL, CTCEG-PIIPL, Dogus-Soma, IL&FS-CR25G, J Kumar-CRTG, L&T-STEC, Mosmetrostroy-HCC, OHL-SKE&C, Pratibha Industries -GDYT consortium, Sacyr CMC ESSAR, Salin Impregilo-Gammon, STRABAG-AG-Patel and Unity-IVRCL-CTG.
 

 

HI-BOND FOR RAJASTHAN PLANT

 

High Bond Cement has approached the Rajasthan government with a proposal to set up a Greenfield cement plant in that state. With the setting up of the plant the company is expected to have an initial capacity of 3 million ton per annum.  While the minders of the company have identified seven locations in the desert state for the proposed plant which will serve the north Indian market, the project cost is estimated to be about Rs 1,300 crore. It is reported while 60 per cent of the cost of the project will be funded by the company itself the remainder is expected to be raised from the market. Hi-Bond is planning an Initial Public Offering in this regard but is said to be also open to private equity contributions. The company has raised capacity at its Rajkot plant from 0.6 million tonne to 1.3 million tonne year. 

 

 

SENIOR CITIZENS HOUSING FROM TATA

 

Tata Housing has unveiled plans to develop specially designed houses for senior citizens.  The real estate developer is to invest up to Rs 1200 crore on the projects to come up in eight cities across India. This includes cities like Ahmedabad, Mumbai, Kolkata, Chenna and NCR. The company has already tried out the concept of senior living with the launch of Riva Residences in Bengaluru. The recent announcement to expand the projects to other cities follows the receipt of over 4,000 enquiries from various locations after the company’s maiden offering for senior citizens.  It is reported the homes in Bangalore are priced between Rs 45 60 lakh but it would vary in other cities.  All units would be either 1 or 2 BHK and will come with modern utility-based design facilities, services and ambience.

 

 

IL&FS ENGG BAGS KOLKATA METRO WORK

 

A contract to build elevated metro stations on the Kolkata Metro Line has been bagged by IL&FS Engineering and Construction. The Rs 300 crore work awarded by RVNL Kolkata involves construction of seven elevated metro stations from sub CBD-1 to Titumir in New Garia-Airport Metro Corridor of Kolkata Metro Line. The project is to be completed in three years from the date of issue of letter of acceptance. The firm is already involved in two railway contracts for RVNL worth over Rs 500 crore in Kadapa and Nellore districts of Andhra Pradesh.

 

 

IRB INFRA HIGHWAY PROJECT BEGINS WORK

 

An SPV formed by IRB Infrastructure Developers Ltd (IRB) has started work on the highway project being carried out on BOT basis from the Goa-Karnataka border to Kundapur. In terms of the concession agreement signed by IRB Westcoast Tollway Pvt. Ltd with the NHAI the project involves four laning of the said stretch along the NH17. The cost of the project for the subsidiary is approximately Rs. 2,639 crore. The construction period for the project is 910 days. It is reported with a viability gap funding of Rs. 536 crore from the NHAI, the SPV has already achieved financial closure and has tied up project finance of Rs. 1,406 crore from a consortium of public sector banks.

 


LUCKNOW METRO FOUNDATION LAID

 

Uttar Pradesh, India’s largest and most populous state has got a shot in its transportation arm with the foundation stone for its first metro being laid by Chief Minister Akhilesh Yadav.  The foundation was laid for the first phase of the Lucknow Metro Rail project which is to be constructed between Lucknow airport to Munshipullia. In this phase, around 23 km route to be constructed from Amausi to Munshipullia under North-South corridor, will be completed by March 2018. The second phase consists of 11 km route between Charbagh and Vasant Kunj, which is slated to be completed in March of the following year. The Lucknow Metro Rail network which will cost Rs 13,000 crore will contain 22 stations.

 

 

TATA ORISSA PLANT TO START STEEL PRODUCTION

 

Tata Steel to start production from its greenfield plant at Kalinganagar in Odisha from the fourth quarter of the next fiscal. The project is the second integrated unit of the home-grown steel major in is India after Jamshedpur, where it recently completed brownfield expansion to enhance capacity to 10 million tonne per annum (mtpa). The Kalinganagar project, which will essentially produce flat products, will have a capacity of 3 mtpa in the first phase which would be doubled in the next phase.

 

 

SANGHI TO INVEST IN CEMENT PLANT

 

Sanghi Industries Ltd (SIL) is looking to raise cement production capacity at its plant at its plant in Abdasa in Kutch.  Currently clinker production is higher than cement production at the plant. Therefore in order to correct the mismatch the company is investing $16.7 million to raise cement production capacity from 2.6 mtpa to 3.5 mtpa by the end of 2015. It is reported the debottlenecking will increase the grinding capacity by 30 per cent at the plant. SIL has invested over $334m on the Abdasa plant that began production in 2003. The company is also planning to acquire six vessels over the next five years for the transportation of its products into newer markets to reduce fuel costs and increase distribution capabilities. It is also in the process of setting up terminals at Navlakhi in Gujarat and at Mumbai port.

 

 

XANDER TO INVEST IN RUSTOMJEE TOWNSHIP

 

A private equity arm of investment major Xander Group Inc is looking to invest up to Rs 375 crore in a township project being constructed by Mumbai based realty firm Keystone Realtors Pvt Ltd’s subsidiary. Kapstone Constructions Pvt Ltd will be building Rustomjee Urbania, a 127 acre township near Thane.  Xander will invest the capital by buying non-convertible debenture (NCD) issued by Kapstone Constructions, it is being pointed out. The transaction is expected to be closed this month. GFH in deals to develop India property projects

 

 

GFH SIGNS UP FOR MUMBAI REALTY PROJECTS   

 

Gulf Finance House (GFH), a Bahrain-based Islamic investment, has signed two agreements for real estate development in India. The flagship investment of the firm is the Energy City and Mumbai IT and Telecom City developments in Navi Mumbai. The project is to be carried out on an area of 1,200 acres. While the first agreement is with the Wadhwa Group  – under which architect Hafeez Contractor has been appointed to be the master planner for phase one of the project, with an expected end sale value of $4 billion – the second agreement has been signed with Adani Infrastructure and Developers, a subsidiary of the Adani Group  which will be partnering with Asiastar City Holdings to develop phase two of GFH's India Project.

 



SADBHAV WINS JODHPUR-BARMER PROJECT  

 

National Highways Authority of India has declared Sadbhav Engineering Ltd winner of the bidding process in respect of the development of Jodhpur-Barmer highway project. The project work relates to widening and strengthening of the section of NH-112 Jodhpur to Pachpadra Pkg-I – two lane with paved shoulder – and four lane from km 140.00 to km 225.615 under NHDP-IV in Rajasthan. The projects are being developed on EPC mode. It is reported the quoted contract price for the project is Rs 212.40 crore and the construction period is 910 days. 

 




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