by Sawon Banerjee | Jun 6, 2021 | News
In addition to the 5.6 million sq. ft. under development, Sunteck Realty is planning to start development of 2-3 million sq. ft. of real estate projects in this financial year, expecting a rise in demand in Mumbai Metropolitan Region (MMR).
The company will also launch its Naigaon Phase-III and the first phases of projects in Vasai and Vasind during this financial year.
“We are seeing a huge demand for residential projects, with people upgrading to better homes as Work from Home (WFH) gains further ground and looking to invest in real projects. The stock markets have also given investors good returns. The ready inventory is slowly being exhausted,” Sunteck Realty Chairman and Managing Director Kamal Khetan issued a statement. “I think this is the best time to acquire land parcels, and we plan to do a similar kind of land acquisition (about 9 million sq ft) in this year too.
The land parcel buys would be funded from our internal accruals as our cash flows are strong,” Khetan said, adding, the present lockdown in the city will propel residential real estate sales for the next 2-3 quarters
by Sawon Banerjee | Jun 6, 2021 | News
The National Highways Authority of India (NHAI) is planning to award projects worth around ₹ 2.25 lakh crore in the current fiscal. The authority awarded 141 projects (4,788 km) worth ₹ 1.71 lakh crore in 2020-21. The share of engineering procurement and construction (EPC) in the awards last fiscal was 50% followed by hybrid annuity model (HAM) at 49%. Only two projects were awarded through the build, operate and transfer (BOT) model. NHAI sources said project awards in the current fiscal could be close to 5,000 km and HAM is expected to have the largest share of awards followed by EPC. BOT is likely to gain momentum to constitute between 5-10% of the award basket. Project awards through the BOT route drew a blank in both 2018-19 and 2019-20. “Funds are not a constraint for project awards. We will be exceeding our last year’s achievement in the current fiscal,” NHAI chairman Dr S.S. Sandhu said.
by Sawon Banerjee | Jun 6, 2021 | News
Highway construction has already exceeded the current fiscal year’s target of 11,000 km (30 km per day), itself a record, and is poised to touch 40 km per day by the end of the year, Union Minister for road transport and highways Nitin Gadkari said on Wednesday. The minister’s comments came at a time when investor interest in pure public-private partnership (PPP) projects is showing an emerging recovery.
“In 2020-21, the ministry of road transport and highways has constructed 12,205 km of national highway between April and now. The rate of construction is 34 km per day. I am confident that by the end of March, we will reach 40 km per day,” Gadkari issued a statement.
by Sawon Banerjee | Jun 6, 2021 | News
Undeterred by the pandemic havoc on the economy and nation, the National Highways Authority of India (NHAI) has set a remarkable target for the current financial year to build new highways with a combined length of 4,600 km. In the last financial year, a record 4,192 km of highways were constructed by NHAI, up from 3,979 km developed in 2019-20 and 3,380 km in 2018-19.
The target for the current year, though seemingly difficult, could be met with dependency on EPC and HAM projects, believes NHAI. The authority has a steady stream of funds including budgetary outlays, borrowings, and the funds being realised through the toll-operate-transfer (TOT) route.
NHAI Chairman, S. S. Sandhu said the authority was confident in completing the target set for the current fiscal even though there has been some impact on highway construction lately due to a pandemic-induced labour shortage in some sites. “Awards this year will be much more than construction target, but that is being finalised,” said Sandhu in a statement.
141 projects were granted by NHAI for a length of 4,788 km in 2020-21. Compared to 3,211 km in 2019-20 and 2,222 km in 2018-19, the length awarded in 2020-21 was the highest in the last three years. Asked whether lockdown and restrictions on mobility were impacting highway construction, Sandhu said, “There is some impact, not much. The impact varies from place to place. At some places, there is no impact; but at other places, 10-15% of the workers have gone back. Overall, as of now, the impact is minimal or marginal.”
by Sawon Banerjee | Jun 6, 2021 | News
Clean energy firm ReNew Power issued a statement that it is committed to achieving net-zero emissions by 2050 and with this, ReNew Power aims to help address the global climate crisis and lead the way in the world’s transition to a low carbon economy, it said in a statement. “ReNew Power, India’s leading renewable energy company announced its commitment to achieving net-zero greenhouse gas emissions by 2050,” the statement said. “ReNew Power is committed to tackling climate change by identifying, assessing and managing climate-related risks and opportunities.
ReNew Power stands committed to its long-standing programme of research and collaboration with businesses, policymakers and non-governmental organisations to accelerate the transition to a net-zero economy, it noted.ReNew Power is playing a leading role in India’s transition to clean energy as the nation’s largest renewables energy company, the statement said.
By extending our support to the “Race to Zero” campaign, we aim to stabilise global emissions by 2050 and create opportunities for low carbon innovations that will drive the transition to a low carbon economy and spur the investment and innovation needed to make the net-zero goal attainable,” Sumant Sinha, Founder, Chairman and Chief Executive Officer of ReNew Power said.
The “Race To Zero” campaign is a global effort to rally leadership and support from businesses, cities, regions and investors for a healthy, resilient, zero-carbon future that prevents future threats, creates jobs and unlocks inclusive and sustainable growth.
