Page 24 - CO January 2022

CONSTRUCTION TICKER TAPE

JINDAL STAINLESS RAISES $82 MILLION FROM KFW IPEX- TATAS TO INVEST `150 CRORE IN ULTRA-LUXE HAILEY
BANK FOR JAJPUR FACILITY EXPANSION ROAD PROJECT
Jindal Stainless Ltd will be raising around $82 million (around Tata Realty and Infrastructure Ltd. will develop ultra-luxury
`620 crore) from a German export financier, KfW IPEX-Bank to residential apartments near Hailey Road, Delhi with an investment
procure equipment from Primetals Technologies Austria GmbH of `150 crore. The company is in the process of getting approvals
and Andritz AG for expansion of its production facilities in Jajpur from the New Delhi Municipal Corporation (NDMC). The Hailey
in the Indian state of Odisha. Pricing of this new loan is spread Road project will have about 100,000 sq. ft. of built-up area with
over 6 months USD LIBOR rate. KfW IPEX-Bank’s financing supports 40 to 42 7-star luxury apartments with average size of 2000 sq ft.
European exports, which in turn secure jobs in Austria, Germany In 2012, Tata Housing had paid `218 crore to buy a bungalow built
and Europe. The expanded facility is expected to increase on a 1-acre plot on Hailey Road. It had demolished the structure
stainless steel production capacity from 1.1 million tonnes per and now expects to launch the project at the same site in FY22-
annum (MTPA) to 2.1 MTPA. Part of this capacity expansion is a new 23. One of the first projects of Tata Housing was Tata Apartments
facility for producing and casting stainless steel. The financing is on Prithviraj Road.
insured against economic and political risks by OeKB, the Austrian For approval of the Hailey Road project, NDMC, the Heritage
export credit agency. Jindal Stainless’ manufacturing facility is Committee and the DUAC are some of the organisations involved.
located in the eastern part of India, in the state of Odisha. The
manufacturing complex is equipped with a ferroalloys facility, and L&T SIGNS PACT WITH TAMIL NADU GOVT TO BUILD DATA
a captive power generation facility, which is eventually scalable CENTRE AT KANCHIPURAM
up to 3.2 MTPA of stainless steel production. Larsen & Toubro (L&T) on Wednesday said it has entered into a
pact with the Tamil Nadu government to establish a data centre
THE PHOENIX MILLS LTD AND CPPIB TO INVEST FURTHER in the state. L&T will establish 90 MW capacity data centres and
IN ISLAND STAR MALL DEVELOPERS PVT LTD associated units in a phased manner in Kanchipuram over the Annular Piston PST Clutch F/R Clutch LSD Clutch
The Phoenix Mills Limited,its subsidiary company Island Star Mall next five years. The company envisages to employ around 1,100
Developers Private Limited (‘ISML’) and Canada Pension Plan people — 600 direct and 500 indirect — in the project. L&T will
Investment Board (‘CPPIB’) have executed a Second Further establish 90 MW capacity data centres and associated units in a
Funding Subscription Agreement (‘Subscription Agreement’) for the phased manner in Kanchipuram over the next five years.
infusion of up to `700 Crores towards subscription of Equity Shares Larsen & Toubro has signed an MoU with the Government of Tamil
of the ISML on Rights basis for deployment towards construction Nadu to establish a data centre at Kanchipuram, Tamil Nadu.
and development of the on-going projects of its subsidiaries at The Government of Tamil Nadu will provide uninterrupted power
Wakad-Pune, Hebbal-Bangalore and Indore-Madhya Pradesh supply and other infrastructure support on a best-effort basis that
and for other mutually agreed purposes. Further, pursuant to the will bring tangible economic and social benefits to the people
Subscription Agreement, the Company and CPPIB have subscribed of state.
to equity shares of ISML for `700 crores in the aggregate on a rights “Tamil Nadu is on a growth trajectory, and we are delighted to
basis and completed their respective investment obligations. partner with the Government of Tamil Nadu to propel this growth
The Company and CPPIB had earlier in April 2017, entered into by building a data centre that will further trigger development Master Cylinder Slave Cylinder Wheel Cylinder PM Valve
definitive agreements to develop, own and operate retail led by attracting investments and generating jobs for the people of
mixed used developments across India and pursuant to which Kanchipuram,” L&T, CEO and MD, S N Subrahmanyan said.
CPPIB had acquired 49% holding in ISML with 51% being held by L&T will establish hyperscale data centres at Kanchipuram to Visit us at
the Company. provide comprehensive solutions and end to end data centre
Pursuant to the aforesaid subscription to equity shares on a services, with multi-cloud managed and cyber security services,
rights basis by the Company and CPPIB, there is no change in digital transformation integration services and application
the shareholding of the Company and CPPIB in ISML and they integration services. L&T said that it is using technology and
continue to hold 51% and 49% stake respectively. innovation for sustainable growth.
Green, Stall No: G-329

24 CONSTRUCTION OPPORTUNITIES|JANUARY 2022