24 February 2018

Ticker Tape - Construction

RAFFLES LUXURY FOR BENGALURU

Raffles Residency Pvt Ltd, an entity of the Singapore-based Jumabhoy family focussed on luxury residences, is targeting UAE investors for its maiden real estate venture in India. The project called Raffles Park is coming up at Whitefield in Bengaluru. Designed by Singapore’s award winning Warner Wong and WOW architects, the project has been planned as a garden enclave with 61 five-bedroom villas spread across 15 acres.Almost, the entire inventory of the flagship project announced during end 2013 has been booked. Raffles Park which is under construction is expected to be delivered by June 2016.

 

ODISHA PROJECTS ON STREAM

Chief Minister Naveen Patnaik of Odisha has laid the foundation stone of three construction projects. The projects relates to the building of a 46 km ring road, a bus depot and three railway over bridges in Berhampur. Other projects include the 13 km long Raghunathpur-Ratanapur bypass being constructed by the National Highways Authority of India, the 15 km long Dakhinapur-Lathi-Haladiapadar stretch and the 17 km long  Mandiapalli-Karapalli and Phulta. Stretch taken by the PWD at a cost of Rs.330 crore. Similarly a bus terminal and depot will be built at Haladiapadara at a cost of  Rs.26.32 crore.

 

TATA HOUSING TO INVEST RS 3,000 CRORE

Tata Housing plans to invest Rs.3,000 crore to acquire more land across major cities in India in the current financial year. The company will be spending at least 50-60 per cent more on land acquisition and joint development agreements during the year as against FY 14. The company will focus on four metros Bengaluru, Kolkata, Delhi NCR, and Mumbai for its land purchases and new projects, both in the premium and affordable category. While proposed premium homes will cost between Rs.6,500 and Rs.12,000 per sq ft, spread over 900 sq ft to 3,500 sq ft each, depending on the location; affordable homes will be under Rs.40 lakh, between 450 sq ft and 1,250 sq ft.
 

MUMBAI PORT PROPOSES REAL ESTATE PLAN

The 142 year old Mumbai Port Trust has come up with a proposal to develop real estate on 1,800 acres of land owned by it to tide over financial crisis. The port trust’s properties are reportedly valued at Rs.75,000 crore. The government is contemplating floating an international bidding to award the development project on a BOT (build, operate, transfer) basis. Incidentally Mumbai port is the largest real estate owner in Mumbai. It ‘s revenues currently from the land is a mere Rs.200 crore annually. Under the proposed development plan the port intends to build cruise terminals, new waterway projects, a 500-room floating hotel, three-four floating restaurants, a ferris wheel on the lines of the London Eye, and marinas and jetties to promote water transport in Mumbai.

 

AFFORDABLE HOUSING FROM MAHINDRA

The Mahindra Group has forayed into affordable housing through its real estate and infrastructure development arm Mahindra Lifespace Developers. The company is set to launch two projects in Chennai and Mumbai Metropolitan Region in the next two months under the developer’s new business vertical called Happinest. This subsidiary will target families with total monthly income of up to Rs.40,000. The company is planning to build one-two bedroom houses spread over 350 to 650 sq ft and priced at less than Rs.20 lakh. The project will be developed on 15 acres at Boisar while the Chennai project will be spread over 13 acres.

 

INFOSYS TO START WORK ON MIHAN

Tech major Infosys is planning to start construction of its Mihan unit next month. According to senior officials from Maharashtra Airport Development Company (MADC), the state government agency developing the SEZ, Infosys recently secured permissions for operations from the office of Development Commissioner. This means the goods and material used for constructing the unit will be exempt from tax. The first phase of the project may employ around 4,000 techies though there are plans to create 14,000 jobs eventually. Though the software company has acquired 142 acres of land it will only use 20.5 acres in the initial phase. 

 

$499 MN FOR ACC MODERNISATION

ACC Cement plans to invest $499 million to modernise its Jamul facility in Chhattisgarh and to add a grinding unit of 1.5MT per year capacity at its Jharkhand-based unit. The cement major aims to decommission the existing plant at Jamul and set up a new technology-based cement plant with a 4 MT per year production capacity. The company plans to raise capacity to 10 MT per year from the current 6 MT per year by 2016. ACC has six plants and enjoys a market share of 12 per cent.

 

LODHA-IBM JV PLAN SMART CITY

Technology and consulting firm IBM has entered into an agreement with realty player Lodha Group to develop and manage smart city infrastructure in the real estate group's township project – Palava in Thane district. The project, spread across 4,000 acres and envisioned as a city, will incorporate IBM's smarter city technology using advanced data driven systems to integrate information from all operations in Palava into a single system.  Located at the centre of the economic triangle of Navi Mumbai, Thane, and Kalyan, Palava project is expected to be completed by 2025 and house one lakh families. It will also provide 3.5 lakh jobs. The first phase of the project, where it will build 19,000 homes, will be completed by 2015-end.

 

BRAHMA TO INVEST RS 3,000 CR 

New York-based Brahma Management has lined up big investments for the Indian real estate market. This FDI-funded investment and asset management company has already invested around Rs.2,500 crore in the sector and has plans to put in another Rs.3,000 crore over the next two years. So far, its investments in the realty sector include Gurgaon-based projects Brahma City and Athena, and The Valley, a joint venture township project in Panchkula. While Athena is a retail and commercial office center, Brahma City is a gated township spread over 150 acres of land. With a big presence in Gurgaon, the fund is now planning to foray into other markets such as Bengaluru and Mumbai.

 

ACCOR TO EXPAND INDIA NETWORK 

French hospitality chain Accor will be doubling its hotel network in India by adding 14 more hotels to its inventory by next year. It is also planning to introduce upscale brand Grand Mercure in India. Accor currently operates 25 hotels and two Convention Centres in India. By next year, Accor will be managing 50 properties.

 

L&T MINING UNIT TO RELOCATE TO KOLKATA

L&T has outlined plans to move its mining unit to Kolkata from Chennai in order to be close to the centre of operations in eastern India. The mining division called Metallurgical and Material Handling (MMH) provides engineering procurement and construction solutions for operations such as iron ore crushing, coal washing and bulk materials handling. The subsidiary reportedly contributes around 3 per cent to the company’s revenues

 

FOSROC SETS UP BENGAL PLANT

International construction solutions major Fosroc is looking to set up its fourth plant in the state of West Bengal. The company already has three plants in India – one each in Karnataka, Uttarakhand and Gujarat. Its products include items cement and concrete technology as well as chemicals for water and fireproofing and finishing. The new unit will apart from catering to markets in the east and north east will also offer support to Bangladesh and Bhutan.

 

ALUMINIUM PARK FOR ODISHA’S ANGUL

An Aluminium Park is being set up as a joint venture between NALCO and Odisha Industrial Infrastructure Development Corporation at a cost of Rs.125 crore. Incidentally the Department of Industrial Promotion and Policy has approved a grant-in aid of Rs.43 crore for construction of physical infrastructure and common utilities in the facility. It is reported NALCO will supply hot metal to the proposed park at Angul for supporting downstream units which will open for business.

 

INDIA CEMENTS TO UPGRADE TN PLANT

India Cements plans to revamp and increase the production capacity of its cement plant in Tamil Nadu with an investment of $13.3million. The cement plant upgradation will include a new line and optimisation of the existing kiln, increasing capacity to about 1.70 MT per year from the present 0.6MT per year. The project is expected to commence once India  Cements obtains environmental clearance.

 

New METRO FOR GHAZIABAD

Ghaziabad will soon have metro connectivity thanks to a Memorandum of understanding signed on June 17 by the Ghaziabad Development Authority- Delhi Metro Rail Corporation (GDA-DMRC). The MoU relates to the extension of the metro line from Dilshad Garden till the New Bus Stand in Ghaziabad. It is reported the 9.41 km long will be completed within three years time. 

 




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