23 October 2019

Table of Contents for Ticker Tapes





Construction

XCMG CHINA TO INVEST $150 M IN MANUFACTURING UNIT IN INDIA

XCMG, a China-headquartered global construction machinery company, will invest $150 million in a new manufacturing unit in India for construction and material-handling machines. The company will collaborate with Schwing Stetter India, a ready-mix concrete equipment company; to use the latter's facilities and resources to build its business in India.  XCMG is in the process of finalising the location for the new factory, there is a strong possibility the unit will come up near Chennai due to various advantages. Both the partners expressed that the new factory will be up and running by the end of this year.

 

 

L&T BAGS SMART CITY INFRASTRUCTURE CONTRACT

Larsen & Toubro Ltd has bagged the contract as implementation partner of Pune Smart City project. The construction giant will implement various infrastructure projects as well as security and connectivity systems. The award of contract will now speed up the implementation of various components of Smart City projects. The projects include high speed Wi-Fi services across the city, establishment of emergency call boxes and public address systems, bus-stops, hospitals, parks and key road stretches.

 

 

K RAHEJA CORP, GIC TO BUY SIEMENS’ WORLI PROPERTY FOR Rs.610 CRORE

In a major land deal, K Raheja Corp and Singapore’s sovereign wealth fund GIC will jointly purchase a property located at Worli, Mumbai for Rs.610 crore from Siemens. Siemens and Whispering Heights Real Estate, a proposed joint venture entity of GIC affiliate Reco Solis Pte Ltd and the K Raheja Corp Group, have executed the MoU for the transfer and assignment of leasehold interest in the property located at Worli for a total consideration of Rs.610 crore. The proposed deal is subject to receipt of all requisite statutory and regulatory approvals from the concerned authorities and signing of firm agreements between the two parties.

 

 

RAFFLES TO COMPLETE SECOND LUXURY RESIDENTIAL PROJECT IN BENGALURU

Premium residential developer Raffles Residency Pvt Ltd is looking to close an over $70-million, high-rise luxury project with 90 apartments in Bengaluru’s central business district in three-six months. The developer is also in talks to close two other similarly valued projects in the city. Raffles Park consists of 61 five-bedroom villas spread across 15 acres, priced at Rs.6.9-8 crore apiece. According to the company, Raffles Park exceeds the IGBC Gold standard. About 60 per cent of the villas are sold and the first set will be handed over to residents in February.

 

 

GODREJ PROPERTIES SELLS OVER 300 APARTMENTS IN PUNE PROJECT

Mumbai-based real estate developer Godrej Properties Ltd (GPL) has sold more than 300 apartments within two months of launch at its project Godrej Greens in Pune. This represents more than 75 per cent of the 400 apartments that were up for sale. Godrej Greens, a part of a larger 31-acre residential development at Undri, is spread across 10 acre. The project offers 2BHK and 3BHK apartments with carpet areas ranging from 52.3 sq. m. to 82.5 sq. m. (563 sq. ft. to 889 sq. ft.).

 

 

XRBIA DEVELOPERS FORAYS INTO AFFORDABLE HOUSING IN UK

Realtor XRBIA Developers is foraying into UK market with its first affordable housing project in on the outskirts of North East London in alliance with a local builder to launch a 1million sq ft project spread over 20 acres. In the UK project XRBIA will hold 40 per cent stake and has already received local approvals and is expected to be launched in the next one month.

In London, Xrbia’s maiden project is setting out to deliver these ‘micro’ homes spread over 400 sq ft at a cost of around 80,000 pounds and 600 sq ft at 120,000 pounds. The company plans to invest Rs.100 crore on affordable housing projects in UK over the next one year that will be financed through internal accruals.

 

 

LODHA GROUP LAUNCHES INVESTMENT FUND FOR START-UPS

Real estate developer Lodha Group launched its maiden investment fund for start-ups focused on smart city solutions and overall real estate sector. With an initial investment corpus of Rs.50 crore, the company will not only provide angel funding or venture capital, but also business opportunities, industry contacts and mentorship. Lodha Group’s Startup Investment Fund will invest in start-ups at all stages of the development cycle, including early stage start-ups, which are focused on creating value in the real estate and smart city space in India. Within real estate, the company will look at all aspects of the value chain, right from Digital Marketing to Analytics and from Customer Relationship Management (CRM) to smart city services.

 

 

JSW CEMENT TO ACQUIRE SHIVA CEMENT

JSW Cement is close to buying out the entire promoters' stake, including that of ACC which owns 12.65 per cent equity in the Odisha-based Shiva Cement. JSW Cement will make an open offer after acquiring majority stake. Besides Odisha, Shiva Cement taps into supply deficit markets in West Bengal, Jharkhand and Bihar. These states are historically in cement supply deficit due to poor availability of limestone reserve. The company plans to expand its capacity from 8.76 mt to 17 mt by April 2018 with an investment of Rs.2,700 crore.

 

 

ADANI TO INVEST Rs.49,000 CR IN GUJARAT OVER 5 YEARS

Adani Group will invest Rs.49,000 crore in Gujarat for expansion of port capacity as well as foraying into water and cement businesses over the next five years. They will set up a 10 million tonnes cement clinker plant at an investment of Rs.5,500 crore and another Rs.2,000 crore in a desalination plant in Gujarat and expand capacity of all its Gujarat ports at Mundra, Dahej, Hazira and Ajira and Tuna.

 

 

REITS, INVITS COULD HELP RAISE Rs.50K CRORE

The real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) can help raise close to Rs.50,000 crore in the near-term, given the interest shown by certain players in the infra and real estate space. This amount can be utilised either for repayment of debt from banks/ non-banking financial companies (NBFCs)/financial institutions (FIs) or as a consideration to the existing sponsor for dilution of stake or both. This will result in monetisation of sponsors' investment in long gestation projects or result in release of loan funds for banks to fund other infrastructure projects.

 

 

MUKESH AMBANI PROMISES Rs.10,000 CRORE MORE

Chairman Mukesh Ambani said Reliance Industries will complete investment of Rs.1.25 lakh crore in refinery and petrochemical expansion projects in Gujarat by March, exceeding commitments made by Rs.10,000 crore. Reliance has invested more than Rs.1,25,000 crore in Gujarat in the past four years.

 

 

MRF PLANS TO INVEST Rs.4,500 CR IN GUJARAT

Tyre major MRF will invest around Rs.4,500 crore in a phased manner over a period of ten years to set up a manufacturing unit in Gujarat for the manufacturing of automotive tyres, tubes, flaps and related products. The company proposes to invest a sum of about Rs.4,500 crore over a ten-year period in a phased manner. The project will be funded by internal accruals and or debt.

 

 

NISUS FINANCE INVESTS Rs.25 CR IN MUMBAI-BASED REALTY DEVELOPER

PE firm Nisus Finance Services Co (NiFCO) has invested Rs.25 crore in Mumbai-based developer Midcity Heights Pvt Ltd. The projects, comprising 3BHK apartments, with a total saleable area measuring 50,000 sqft, cater to the mid-income affordable housing segment. The reduction in home loan rates is further expected to accelerate sales for the mid-income consumer segment.

 

 

ITC BEGINS CONSTRUCTION ON 300-ROOM HOTEL IN AHMEDABAD

ITC started the construction work for its 300-room luxury hotel named 'ITC Narmada' in Ahmedabad. The company has laid-out plans to invest Rs.600 crore for the super-premium hotel in one of the upscale neighbourhoods in the city. The hotel is being constructed in an area of around 6 lakh sq ft, and claimed it to be the largest and most premium hotel in the State with 300 rooms.

 

 

IRB INFRASTRUCTURE GAINS ON RECEIVING LOA FOR KISHANGARH TO GULABPURA PROJECT

IRB Infrastructure Developers has received LOA from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the state of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project. The project is on DBFOT Pattern with length of approximately 90 Kms. The estimated project cost of he company is approximately Rs.1,530 crore. The concession period of the project is 20 years including construction period of 910 days.




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