Page 60 - CO_SEP_2022

Be a part of India’s
TICKER TAPE
INTERNATIONAL Sterlite Brazil Participações S.A. (“Sterlite Brazil”), a subsidiary of Sterlite regions of Claudia (MT) and Novo Progresso (PA). The projects will be Asia’s most
Building, Construction
20
th
STERLITE POWER WINS TWO MAJOR PROJECTS IN
Edition & Infrastructure BOOM!
TRANSMISSION AUCTION IN BRAZIL
implemented over a period of 42 to 60 months and are estimated
to generate ~32,000 direct jobs during the construction period.
Power Transmission Limited, a company that develops transmission
Sharing his views on the milestone, Pratik Agarwal, Managing
Director, Sterlite Power said, “With a strong pipeline of transmission
projects, won Lot 05 and Lot 09 at the transmission auctions (n°
projects, Sterlite Power is making a significant contribution in
001/2022) held at B3 in São Paulo. Promoted on June 30, 2022
definitive expo for
enhancing access to reliable power in Brazil. Our footprint is further
by the National Electric Energy Agency (ANEEL), a total of 13 lots
were auctioned for the construction and maintenance of 5,425
kilometers of transmission lines in Brazil. Located in the states of
make a meaningful impact on the lives of people in Brazil by
Bahia and Sergipe, Lot 05 will focus on developing a 113 km long strengthened with these critical project wins. We will continue to 27 – 29 2023 Roofing & Allied Products !
delivering quality transmission assets in record time.” The result of
transmission line and 300 MVA transmission capacity for the state this first auction of 2022 is part of Sterlite’s investment strategy in the APRIL
of Sergipe. Sterlite Power won Lot 05 offering RAP (Permitted Annual country. Commenting on the wins, Amitabh Prasad, CEO of Sterlite Bombay Exhibition Centre
Revenue) of BRL 22 million ($4.4 million), which corresponds to a Power Brasil, said, “Brazil is very important for our investments, a Mumbai, india
discount of 32.81% in relation to the maximum amount of BRL ~30 country where the power sector has a long-term pipeline. We had
million ($6.0 million). In addition to Lot 05, Sterlite Power also won Lot prepared ourselves well for this auction and, with these two projects,
09, which offered RAP (Permitted Annual Revenue) of BRL 88 million we will continue to contribute to the flow of energy in the regions Find TOTAL SOLUTIONS
($17.6 million) with a discount of 32.81% over the maximum RAP of of Bahia, Sergipe, Mato Grosso and Pará.” In addition to new wins
BRL 130 million ($26 million). Located in the states of Mato Grosso above, the Brazilian subsidiary of the Indian company currently has @ ROOF INDIA 2023 for
and Pará, Lot 09 will involve building a 505 km long transmission six projects in the country, three of which will be delivered this year
line and 850 MVA capacity to address the energy demands in the and three are in the project developmental stage.
CABINET AUTHORIZES BPCL UNIT’S $1.6 BILLION interest in the block in 2008. A joint venture between Videocon and
INVESTMENT PLAN IN BRAZIL BPRL Ventures NV, a division of BPRL (the upstream branch of BPCL),
The state-owned Bharat Petroleum Corporation Ltd. (BPCL) was owned a 50/50 interest in IBV Brasil SA, which controlled 40%. But
given permission by the Union Cabinet recently to spend an extra as a result of Videocon’s bankruptcy, BPRL now fully controls the
$1.6 billion on a Brazilian oil block. Additional investment by Bharat 40% interest. The approval from the CCEA will make equity oil more
Petro Resources Ltd (BPRL), a fully owned subsidiary of BPCL, for the accessible, enhancing India’s energy security and diversifying the
construction of the BM-SEAL-11 Concession Project in Brazil, has nation’s crude oil supplies. The statement added it also increases
been authorized by the Cabinet Committee on Economic Affairs, India’s footing in Brazil, which would further expand economic
which is presided over by Prime Minister Narendra Modi. opportunities in neighboring Latin American nations, and that Indian
The block will go into production between 2026 and 2027. A 40% oil corporations have indicated an interest in sourcing additional
ownership share in the block belongs to BPRL. Petrobras, Brazil’s crude oil from that nation.
state-owned oil firm, owns 60% of the operating business. The CCEA also authorized an increase in the company’s authorized
In the block, which is now being exploited, many oil finds have been share capital from `15,000 billion to `20,000 billion as well as an
found. Initially, BPCL and Videocon worked together to acquire the increase in the limit of equity investments by BPCL in BPRL.
Concurrent Event
Concurrent Event
WELSPUN CORP’S ASSOCIATE COMPANY BAGS SAR 324 award of an SAR 490 million contract in May 2022 and SAR 497
MILLION CONTRACT IN SAUDI ARABIA million contract in March 2022, both of which were also awarded
Welspun Corp Ltd’s associate company, East Pipes Integrated by SWCC. EPIC is Saudi Arabia’s leading manufacturer of Helical INDUSTRIAL FLOORING TOOLS AND ADHESIVES SHEET FLOORING
Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA), Submerged Arc Welded (HSAW) pipes with an impeccable quality
has been awarded with a contract by SWCC for manufacture and & on time delivery track record. The technological know how & LAMINATE FLOORING INSTALLATION
International Exhibition on
AND CLEANING
TECHNOLOGY
PRODUCTS
WOOD FLOORING
supply of steel pipes. The contract is valued at SAR 324 million abilty to seamlessly execute large projects positions them as the International Exhibition on FLOOR INDIA
Industrial & Commercial
(approximately) including value added tax & the same will be largest and most respected pipe company in KSA and is the most Industrial & Commercial EXHIBITION
Flooring Industries
executed in this financial year. This is in addition to the recent preferred supplier for projects both in the Water and Oil & Gas sector. Flooring Industries
www.floor-india.com
www.floor-india.com
GMR INFRA’S JV WITH ANGKASA PURA II ASSUMES The GMR Group has thus expanded its international footprint. It
OPERATIONAL CHARGE OF MEDAN AIRPORT IN INDONESIA is the only airport operator in India with a significant presence in Supported by
Angkasa Pura Aviasi (APA), a joint venture company of GMR Airports South-East Asia and Europe. GMR currently operates the Mactan
Limited (Subsidiary of GMR Infrastructure Limited) and Indonesia’s Cebu International Airport (MCIA) in the Philippines and recently
TM
state-owned airport operator Angkasa Pura II (AP2), announced completed the construction of Clark Airport in the Philippines.
that it has taken over operational responsibility of the Kualanamu Medan airport would be the company’s second operating asset WORLD METAL FORUM
International Airport in Medan, Indonesia (Medan Airport). in South-East Asia. The Group is also planning a greenfield airport
In the presence of Budi Karya Sumadi, Minister of Transportation on the Greek island of Crete (Europe). GMR Airports Limited had Building better together
(MOT), Erick Thohir, Minister of State-Owned Enterprises (MSOE), submitted a bid to develop and operate Medan Airport. PT Angkasa
Edy Rachmayadi, Governor of North Sumatra, and Muhammad Pura II conducted an international selection process to find a : Hyve India Private Limited
Awaluddin, President Director, Angkasa Pura 2, the joint venture strategic partner for Medan Airport. APII is a state-owned company (CIN. U92490DL2004PTC124343)
formally took over the operations of Medan airport today. that manages 20 airports in Indonesia. 503, 5th Floor, Mercantile House, 15 KG Marg,
Connaught Place, New Delhi-110001, INDIA
Email: info.india@hyve.group, Website: india.hyve.group, www.hyve.group
60 CONSTRUCTION OPPORTUNITIES|SEPTEMBER 2022