by Sawon Banerjee | May 7, 2021 | News
National Highways Authority of India (NHAI) awarded a ₹828 crore project in Himachal Pradesh to IRB Infrastructure Developers Ltd (IRB).
“The company has received Letter of Award from NHAI for the project of Rehabilitation and Upgradation to Four Lane configuration and Strengthening of Punjab/HP Border of NH-20 (New NH-154) of Pathankot-Mandi Section in the state of Himachal Pradesh on Hybrid Annuity Mode (HAM),” the company said in a regulatory filing to the BSE.
“We are happy to receive the LoA from NHAI, the second one in a span of two days; and commence the new financial year 2021-22 on a positive note. We now have robust order book of over ₹14,500 crore providing strong revenue visibility for coming years, which will strengthen further with new wins.” Virendra D.Mhaiskar, C&MD released a statement.
by Sawon Banerjee | May 7, 2021 | News
Cement giants ACC and Ambuja Cements announced their partnership with the Indian Institute of Technology Madras (IIT-M) to develop green and sustainable building solutions. A collaborative research study will be financially aided by LafargeHolcim Innovation Centre (LHIC) focusing on ‘Binder Optimization for Alternate Reinforcements’, a statement said. ACC and Ambuja Cements are subsidiaries of Swiss building materials company LafargeHolcim.
“This research will delve into the optimised use of low CO2 binders with a combination of alternative reinforcement, as a potential substitute for conventional steel rebar, thereby significantly reducing the CO2 footprints of construction”, the statement said.
by Sawon Banerjee | May 7, 2021 | News
India’s primary steelmakers have increased their share of exports in Q4 amid rising international steel prices. JSPL’s share of exports in sales was around 21% in Q3 as against 38% in Q4. SAIL has increased exports to 0.40 million tonnes from 0.27 million tonnes in Q3 as sources said that there was a significant rise in exports.
As per estimates by analysts, the share of exports is to rise in the first half of FY 21, and will increase by 12-16% in FY 22, due to widening spreads between export and domestic realisations. Data from ministry indicates that finished steel exports in 2020-21 was around 10.79 million tonnes, showing a growth of 29% year-on-year and export of semis in the 11 month period till February 2021 grew by 131% to 6.09 million tonnes. While exports of finished steel in the first quarter of fiscal 2021 were driven by low domestic demands due to pandemic-led lockdown, the surge in the last quarter was led by higher export realisation. “Overall in fiscal 2021, exports increased 29%. The momentum is expected to continue and push finished steel exports another 12-16% higher this fiscal,” said a report by rating agency Crisil.
by Sawon Banerjee | May 7, 2021 | News
The GMR Group announced the launch of GMR AeroCity in Hyderabad, with over 1,500 acres spread area in Shamshabad, the city’s suburbs. The AeroCity, with the Hyderabad international airport at its centre, will include various establishments like Business Park, Retail Park, rental accommodations, Aerospace and Industrial Park, hospitality, schools, healthcare, Logistics Park and entertainment facilities.
Announced by the GMR Group in a press release, a hospitality district is in planning to meet the variety demands placed by a number of AeroCity users.
GMR Business Park housed in GMR AeroCity Hyderabad will offer varied office real-estate solutions like ready to move-in Grade-A offices and Built-to-Suit campuses for industries working in various sectors. It will have one million square feet leasable area, spread over four towers of which Tower 1 is already fully occupied and Tower 2 is ready for occupancy. The press release said that the AeroCity will be well-connected with important business locations of Hyderabad with an eight-lane express way, an elevated corridor and that the Metro Rail will connect airport with the city.
GMR Airport Land Development, CEO, Aman Kapoor said, “Hyderabad AeroCity is creating a paradigm shift in the way of doing business in India. It offers connected, smart and sustainable workspaces with optimum leasing depths to maximize workspace design efficiency. It also provides unparalleled ease of doing business to its trusted partners, who love to focus on their core business, leaving behind issues of infra, facilities, security etc.”
by Sawon Banerjee | May 7, 2021 | News
Larsen & Toubro’s construction arm secures multiple orders, collectively in the range ₹1,000 crore – ₹2,500 crore as per statement issued by the company. These orders include heavy civil infrastructure, water and effluent treatment and building and factories projects.
L&T has won EPC job for constructing a new four-lane bridge parallel to the existing Vikramshila Setu, and the approaches across river Ganga on the newly declared NH-131B at Bhagalpur in Bihar. Scheduled time for completion of the project is 48 months.
The Municipal Corporation of Amritsar has sanctioned the company with an EPC work of a bulk water supply system in the city. The project is part of Punjab Municipal Services Improvement Project (PMSIP), funded by International Bank for Reconstruction and Development (IBRD). “The project aims to migrate from rapidly depleting and contaminated decentralized ground water sources to centralized surface water sources to supply potable water to the city, to achieve sustainability,” L&T said.
