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| 09 August, 2020, 01:56 AM IST | E-Paper
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    Construction

    GMR Infra to divest large part of non-core assets; betting big on land monetisation

    "Government of Andhra Pradesh signed MoUs with Haldia Petrochemicals Ltd to set up a refinery cum petrochem project in 2,500 acres and with HPCL-GAIL consortium for Petrochem complex in 2,000 acres land," it said and added in addition pact has been inked with a stainless steel manufacturer for 500 acres and an Australian Lithium Refinery for 100 acres."

    91% construction companies spend less than 5% of annual turnover on technologies: Report

    According to IDC, construction companies must work on creating a digital transformation technology roadmap. In India, 35% are planning to establish this roadmap within the next 12 months, highlighting how it is a priority for construction companies in the country. However, 24% still have no plans to do so.

    Clearance awaited from Town & Country Planning dept: Wonderla Holidays on Chennai project

    Wonderla Holidays Ltd Chairman M Ramachandran said, "we have to renegotiate the exemption period in view of the delay in construction work due to (COVID-19 enforced) lockdown". The Chennai project was the company's major planned investment which would be the fourth such facility for the group.

    COVID-19: L&T Group chairman, directors take voluntary salary cut of up to 53%

    group chairman A M Naik drew a total remuneration of Rs 6.18 crore for 2019-20 as against Rs 8.15 crore in 2018-19, according to the annual report of the infrastructure giant. L&T Chief Executive Officer & Managing Director S N Subrahmanyan took home Rs 27.17 crore for 2019-20, showing a pay cut of 43.91 per cent.

    Omaxe to use advanced steel structure technology for its commercial project in Delhi

    Omaxe has signed an agreement with Jindal Steel and Power Ltd. The company is developing a multi-level parking-cum-commercial project at Chandni Chowk under PPP model with North Delhi Municipal Corporation (North DMC). To ease the traffic and parking woes at Asia’s largest wholesale and retail hub, North DMC allotted about 4.5 acre land to Omaxe for providing parking for 2100+cars.

    Bungalows for sale at posh Delhi addresses

    Spread over 28 sq. km., LBZ has about 3,000 bungalows meant for top ministers, judges and government officials and about 600 homes owned by some of India’s wealthiest people.

    IRB Infrastructure secures Rs 2,193 crore project in West Bengal under Bharatmala

    "We continue to look for opportunities to expand and diversify our presence. With this win, we will enter the eastern jewel of India. We are committed to build world class highway infrastructure for the development of eastern region and to bring quality connectivity with the rest of the country," IRB Infra Chairman & MD Virendra D Mhaiskar said.

    Dilip Buildcon wins Rs 882-crore project from NHAI in Gujarat

    "Dilip Buildcon Limited has been declared as L-1 (lowest) bidder for a new HAM project viz. four-laning of the Dhrol-Bhadra-Patiya section and the Bhadra-Patiya-Pipalia section of NH151 in Gujarat," the company said in a regulatory filing to the BSE.

    NBCC India bags orders worth Rs 432 crore in June

    Another order worth Rs 147 crore was received from IIT (BHU) for project management consultancy services for construction and development of students' hostel and faculty apartments at IIT-BHU, Varanasi, the filing said.

    PNB Housing Finance to auction Vipul Ltd Project in Gurugram

    The auction, with a reserve price of Rs 452.58 crore for both assets, will take place on August 6. According to the notice, a copy of which ET has reviewed, developers can submit bids independently or through a joint venture, by August 5.

    India has additional warehousing development potential of 193 mn sq ft by 2023

    India has additional warehousing development potential of 193 mn sq ft by 2023

    The currently committed land for the warehouse is estimated at 21,163 acres which has the potential of adding 63% more supply to the already existing 307 mn sq ft of warehousing stock. Three out of eight markets Hyderabad (2.19), Ahmedabad (2.09) and Chennai (2.02) ranked high on Knight Frank’s Development Potential Multiple, the report mentioned.

    APREA seeks RBI nod for overseas funds debt investment in REITs, InvITs

    APREA seeks RBI nod for overseas funds debt investment in REITs, InvITs

    SEBI regulations already permit REIT, InvITs' debt issuance to foreign portfolio investors. Finance Minister Nirmala Sitharaman, in Union Budget 2019, had already allowed foreign portfolio investors (FPI) to invest in REITs and InvITs but the enabling mechanism has not yet been put in place.

    PNC Infratech wins Rs 1,412 crore project from NHAI in UP

    PNC Infratech wins Rs 1,412 crore project from NHAI in UP

    "PNC Infratech Limited announces receipt of Letter of Award (LOA) on June 24, 2020 for a NHAI Project of 53.95 km long four-laning of Meerut-Nazibabad section of NH-119 (New NH-34)...in the state of Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1,412.0 crore," the company said in a filing to the BSE.

    Nine companies promising 5,600 jobs allotted land plots in Noida

    Nine companies promising 5,600 jobs allotted land plots in Noida

    The companies that have been granted allotment of land of more than 2.15 lakh square meter include printing unit Replika Press, natural gas distribution company Indraprastha Gas, Complete Surveying Technologies, Durga Fabrics, Mountainview Technologies, Keshoram Manufacturing, MG Capsules , NJD Softek and Vandana Computers.

    JCB India bites the retrenchment bullet, sacks 400 permanent employees

    JCB India bites the retrenchment bullet, sacks 400 permanent employees

    The retrenchment includes 80 to 90 persons ranging from a DGM till Vice President level over the last fortnight. JCB India has a total workforce strength of 8000 people, which includes 4000 permanent employees...The employment of a sizable number of contractual and temporary workers has also been discontinued.

    Lockdown effect: Construction industry bears brunt of modern day exodus

    Lockdown effect: Construction industry bears brunt of modern day exodus

    The lockdown-triggered joblessness has forced a reverse migration of thousands of guest workers from Tamil Nadu resulting in the workforce across various sectors in the state dwindling, with the construction industry in particular bearing the brunt of the modern day exodus.

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