Page 3 - Construction

NBCC secures new work orders worth Rs 23,500 crore in 2023-24 fiscal

State-owned construction firm NBCC Ltd on Tuesday said it secured projects worth Rs 23,500 crore during the last fiscal year. In a statement, NBCC said it has secured significant business during 2023-24 financial year. The company "has secured record new works of Rs 23,500 crore on consolidated basis and Rs 18,400 crore on standalone basis, as compared to Rs 6,700 crore (consolidated basis) and Rs 4,225 crore (standalone basis) in preceding fiscal." Among the major orders received in 2023-24, NBCC said it has got additional FAR (floor area ratio) works in Amrapali worth about Rs 10,000 crore. NBCC Chairman and Managing Director K P Mahadevaswamy emphasised the company's strength in the construction and infrastructure domain, particularly in redevelopment and land monetisation endeavours. "With a robust order book and a strategic focus on redevelopment and land monetisation, NBCC is well-positioned to not only sustain but also incrementally elevate its growth trajectory, propelling

Saudi' Arabia's Neom hunts for more cash for $1.5 trillion desert city

Neom recently secured a 10 billion-riyals loan from a group of Saudi banks, according to two other people familiar with the deal

HMPL board approves Rs 486 cr fundraising plan through issuance of warrants

Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Saturday said its board has approved a proposal to raise Rs 486 crore through the issuance of warrants. The plan was approved by the board of the company at a meeting on Friday, HMPL said in a regulatory filing. The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said. The proposal is subject to the approval of shareholders and other regulatory authorities, HMPL added. "Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees," it noted. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth. Besides, the constitution of a fundraising raising committee was am

First batch of Indian workers left for Israel; govt urges to ensure safety

India on Thursday said it has urged Israel to ensure safety of the Indian construction workers who have gone to the country this week under the framework of a bilateral mobility agreement. Israeli Ambassador to India Naor Gilon said on Tuesday the first batch of over 60 Indian construction workers has left for Israel. "As you are aware, these (first batch) workers have gone to Israel as part of a mobility agreement that we have signed with the country," External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing. "This agreement predates the conflict. We are conscious of their safety. We have urged the Israeli authorities to ensure their safety and well-being," he said. Jaiswal said around 18,000 Indian caregivers are currently employed in Israel and the Indian embassy in that country is in touch with them. Following the Israel-Hamas conflict, there were media reports that said the Israeli construction industry is looking at recruiting 100,000 Indian .

UltraTech Cement to invest Rs 32,400 crore in the next three years

Commissions two greenfield plants adding 5.4 mtpa in Chhattisgarh and Tamil Nadu

Kalpataru Projects bags orders worth Rs 2,071 cr for metro tunnel project

Engineering firm Kalpataru Projects International Ltd(KPIL) on Thursday said the company and its arms have bagged orders worth Rs 2,071 crore for power transmission and distribution and construction of an underground metro rail tunnel project. KPIL is one of the largest specialised EPC (engineering procurement construction) companies engaged in power transmission and distribution, railways, highways, and airports, among others. According to a statement, KPIL and its joint ventures (JVs) and international subsidiaries have secured new orders/notification of awards of Rs 2,071 crore. The new orders include orders in the transmission & distribution (T&D) business in overseas markets. Besides, it has also received an order for the design and construction of an underground metro rail project in India. Manish Mohnot, MD & CEO of Kalpataru Projects International Limited (KPIL), said, "The T&D orders in Brazil and underground metro rail-tunnelling order in India have ...

PM lays foundation stone for redevelopment of 33 Bihar railway stations

Prime Minister Narendra Modi on Monday virtually laid the foundation stone for redevelopment of 33 railway stations and construction of 72 other projects in Bihar under the East Central Railway (ECR) zone. The PM laid the foundation stone of the railway projects in Bihar under the Amrit Bharat Stations scheme. Bihar Chief Minister Nitish Kumar, Deputy Chief Ministers - Samrat Chudhary and Vijay Kumar Sinha, joined the PM's function virtually from the state capital. A statement issued by the Chief Minister's Office after the function said, "Thirty-three railway stations which will now be redeveloped in Bihar include: Barauni, Siwan, Munger, Thawe, Sabaur, Arariya, Shivnarayanpur, Dauram Madhepura, Dehri On Sone, Guraru, Karhagola Rd, Chausa, Laheria Sarai, Banka, Simri Bakhtiyarpur, Supaul, Nawadah, Raxaul, Motipur, Luckeesarai, Masrakh, Rafiganj, Mairwa, Piro, Bikramganj, Labha, Janakpur Road, Chakia, Nabinagar Road, Ghorasshan, Salmari, Ekma and Shahpur Patoree". "The project aims

Gawar Construction looks to raise Rs 2,000 crore from maiden InvIT

Co looks to put 10 road assets for Rs 5250 crore

Centre sanctions Rs 152 cr PMGSY package for upgradation of roads in J-K

The Centre has sanctioned a Rs 152.30-crore package for upgrading 12 roads having a total length of 134 km and a bridge project in Jammu and Kashmir, an official spokesperson said on Saturday. The package under the Pradhan Mantri Gram Sadak Yojana (PMGSY) was approved by the Union Ministry of Rural Development. With this, the spokesperson said, a total of 233 road projects spanning 1,750 km and 66 bridges falling in the alignment of these roads have been sanctioned for upgradation at an estimated cost of Rs 2,245.46 crore under the PMGSY III programme for Jammu and Kashmir. The PMGSY programme was launched in Jammu and Kashmir in 2001-02 to provide connectivity to unconnected habitations with a population above 250 as per the 2001 census. Under this programme, 2,140 rural habitations were found eligible to be connected. For this, the Ministry of Rural Development sanctioned 3,425 works, including 239 bridges (2,741 new connectivity works and 684 upgradation works), under PMGSY-I an

Construction equipment sales rise 30% to 36,055 units in Q3: ICEMA

India's construction equipment industry has witnessed a 30 per cent rise in sales to 36,055 units in the third quarter of the current fiscal, a report said on Monday. As per the data released by Indian Construction Equipment Manufacturers Association (ICEMA), the construction equipment (CE) industry had sold 27,817 units in the third quarter of the previous fiscal. "Of the overall sales for Q3 FY24, 33,135 units were sold domestically and 2,920 units were exported," it said. Sales of material handling equipment rose 46 per cent to 4,482 units and concrete equipment sales grew 43 per cent to 3,840 units during the period. Road construction and material processing equipment sales stood at 1,958 and 688 units, registering an increase of 38 per cent and 18 per cent, respectively. ICEMA President V Vivekanand requested the government to ensure that the steady pace of execution of projects is maintained, which is critical for the consistent growth and development of the construction ...

Power Mech Projects bags Rs 825 crore construction order from Mahan Energen

Infrastructure company Power Mech Projects has bagged an order worth Rs 825 crore for civil and mechanical construction works for 2x800 MW (Phase II) of Mahan Ultra Supercritical Thermal Project at Singrauli in Madhya Pradesh, according to a regulatory filing. Various packages under this order will be completed over a period of 22-33 months, it stated. "Civil and mechanical construction works for 2x800 MW (Phase-II) Mahan Ultra Supercritical Thermal Power Project, Village Bandhua, District Singrauli, Madhya Pradesh from Mahan Energen Ltd for Rs 825 crore," the filing said.

Govt to revamp tunnel construction SOPs to prevent Silkyara like mishaps

The government on Friday said it will revamp the standard operating procedures for tunnel construction after an expert panel found many shortcomings in the under-construction Silkyara tunnel, which collapsed in November last year, leaving 41 workers stranded for more than two weeks. At a press briefing, Road Transport and Highways Secretary Anurag Jain said the Silkyara tunnel project in Uttarkashi is still workable, and the government will not abandon it. An experts' panel to investigate the collapse of a portion of the under-construction Silkyara tunnel has pointed out many shortcomings in the project, he added. "Silkyara tunnel collapse se humne kaafi kuch seekha hai (We have learnt a lot from the collapse of the under-construction Silkyara tunnel)," he said. A total of 41 workers were trapped after a portion of the under-construction tunnel collapsed on November 12 and the workers were rescued on November 28. The Ministry of Road Transport and Highways (MoRTH), on December 6,

High smallcap valuations, temper return expectations: Kotak MF CIO

In an email interaction with Abhishek Kumar, Upadhyaya says domestic-facing sectors like automotive, cement, and construction are a better bet right now as global uncertainties prevail

Construction equipment sales likely to touch double-digits this fiscal year

India is currently the world's third-largest market for construction equipment, after the US and China

Ambuja Cements to set up renewable energy unit for Rs 6,000 crore

Company to set up a 1,000 Mw renewable power unit; investment to encompass projects in Gujarat, Rajasthan

Festivals, weddings may struggle to liven up paint firms' prospects

But lower commodity prices are likely to support margins

LIVE: Jitu Patwari replaces Kamal Nath as MP Congress Committee chief

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Construction-grade sand production plant to begin next month: NLC India

State-owned lignite producer NLC India on Wednesday said its proposed plant for manufacturing construction-grade sand using mine overburden is expected to begin operations by January-end. The plant is expected to produce civil construction-grade sand from mine overburden -- wastes generated during mining operations. Sand manufactured from mining wastes is important in view of the scarcity of natural sand. "This plant is expected to produce civil construction Grade M-sand of 2.62 lakh cubic metre per year from mine overburden...The plant is expected to be operationalised by end of January 2024," the public sector enterprise said in a stock exchange filing. Similar and high capacity plants will be installed in other mines of Neyveli (Tamil Nadu) in due course, the company said. "Bhoomi Puja for the proposed OB to M-Sand Plant at Mine-IA, Neyveli was performed on December 12," it said. Company's CMD Prasanna Kumar Motupalli said that the contract has already been awarded for executi

Delhi govt mulls stipend for construction workers affected by Grap curbs

The Delhi government is planning to award stipends to nearly a lakh construction workers whose livelihoods were affected when restrictions under GRAP Stage-IV were in force in the national capital, officials said on Wednesday. A file on the proposal has been prepared and a meeting on it will be held next week. There are around a lakh workers registered with the Delhi government who are beneficiaries of various welfare schemes, the officials said. "The government will give a stipend of Rs 5,000 to construction workers who were affected due to the ban. A meeting of the Delhi Building and Other Construction Workers Welfare Board will be held next week with Labour Minister Raaj Kumar Anand to discuss the matter," an official said. Restrictions under the stringent GRAP Stage-IV kicked in on November 5 due to deteriorating air quality levels in the national capital. The Centre on November 18 ordered the revocation of the ban on construction work related to linear public projects in ...

JCB India foresees double digit growth in 2024 sales: CEO & MD Shetty

The company achieved domestic sales of approximately 35,000 machines in 2022 and anticipates reaching around 45,000 units for 2023, reflecting a robust 30 per cent annual growth