by Sawon Banerjee | Feb 15, 2021 | News
Steel maker ArcelorMittal Nippon Steel India (AM/NS India) has inked a pact with POSCO Maharashtra Steel, under which the former will supply hot rolled coils (HRC) worth Rs 5,000 crore in 2021.
AM/NS India is a 50:50 joint venture between Luxembourg-based ArcelorMittal and Japan’s Nippon Steel, and POSCO Maharashtra Steel is the Indian subsidiary of South Korean steel major POSCO.
As part of the agreement, AM/NS India and POSCO Maharashtra Steel will also jointly work to enhance the quality of current grades and develop new value-added grades to provide the best quality and state-of-the-art steel products and solutions to consumers.
With a single-location flat steel integrated manufacturing facility at Hazira in Gujarat with a capacity of nine million tpa, AMNS India is strategically located to support POSCO Maharashtra Steel facility with HRC for manufacturing of cold rolled and coated steel.
by Sawon Banerjee | Feb 15, 2021 | News
The Rail Land Development Authority (RLDA) has started the process to redevelop Cuttack railway station in Odisha on PPP model.
The objective of the redevelopment is to upgrade the station in line with modern-day requirements by providing state-of-the-art passenger amenities, while highlighting its historical significance.
The redeveloped station will be equipped with amenities such as segregation of arrival and departure, excellent road connectivity with multi-modal transport integration, security and surveillance systems and many more. The station will be redeveloped on DBFOT model under PPP mode.
RLDA is currently also handling 84 railway colony redevelopment projects and has recently leased out a railway colony in Guwahati for redevelopment.
by Sawon Banerjee | Feb 15, 2021 | News
Larsen & Toubro (L&T) has emerged as the lowest (L1) bidder to construct the 7.945 km elevated Package C4-ECV-02 from Porur Junction to Poonamallee Bypass of Chennai Metro’s new 26.09 km Line-4.
Chennai Metro Rail (CMRL) had invited tenders for Package C4 ECV-02’s construction in August 2020 with a completion deadline of 36 months. Technical bids were opened in November 2019 to reveal three bidders.
This section of the Line-4 will be partly financed by the Asian Infrastructure Investment Bank (AIIB) through a USD 356.65 million (approximately Rs 2,700 crore) loan.
The loan’s concept review was approved on 13 December 2019, and a formal appraisal decision is currently pending.
by Sawon Banerjee | Feb 15, 2021 | News
Business conglomerate Shapoorji Pallonji’s real estate platform Joyville will invest around Rs 400 crore to develop Phase-III of its housing project in Gurugram, Haryana.
Joyville is USD 200 million mid-income housing platform established by Shapoorji Pallonji, ADB, IFC and Actis.
In January 2019, the company had launched Phase-I of the 18 acre project ‘Joyville Gurugram’ on Dwarka Expressway in Gurugram. Phase-II was launched in June 2019.
The company will develop more than 400 units in Phase-III. Phase-I was launched at Rs 5,800 per sq ft; the unit in Phase-III costs around Rs 7,200 per sq ft.
The Joyville platform is developing around 1,500 units in all three phases of the project with a total investment of Rs 1,200 crore. It bought the land parcel from another real estate developer BPTP.
by Sawon Banerjee | Feb 15, 2021 | News
The government of Odisha is planning to roll out housing projects with more than 25,000 dwelling units, mainly for lower and middle-income groups in Bhubaneswar and Cuttack.
This will be one of the biggest housing stocks being built by the government at one go in recent years. The tenders for some projects totalling 20,000 housing units may be floated as early as April 2021.
The projects will be floated by the Bhubaneswar Development Authority (BDA), the Cuttack Development Authority (CDA), the Odisha State Housing Board (OSHB), among other agencies
The government has identified around 200 acre of land in Cuttack and Bhubaneswar for the housing projects. A part of the land will be monetised by involving private developers and money generated will be used in constructions.
