Punjab govt initiates Rs 13,000 crore road connectivity project

September 12, 2013

The Punjab government today launched a programme of Rs 13,000 crore to connect all major cities and towns in the state with 4/6 lane expressways.

The state has 1,739 km of National Highway of which 405 km have already been upgraded to 4 lane and the construction of 4/6 laning of more than 650 km of highways is on full swing.

The state government has chalked out an ambitious plan to construct quality roads along with the banks of major rivers and canals flowing through the state to provide shortest route.

These projects would have dual benefit as besides developing shortest routes, we would also be able to strengthen the embankments of these water channels thereby containing any flood like situation

Source-http://www.newsonprojects.com

Written by ITW Editor · Filed Under Uncategorized

L&T wins Rs4.2bn road project in TN

February 22, 2008

This order is part of the five road-widening proposals worth Rs109.1bn cleared by the Government. L&T will convert a 43.4-kilometer four-lane road into a six-lane one

Larsen & Toubro Ltd. (L&T) has bagged an order worth Rs4.2bn for converting a 43.4-kilometer four-lane road into a six-lane one in Tamil Nadu, Brahm Dutt, Secretary for Road Transport & Highways, said in New Delhi today. This order is part of the five road-widening proposals worth Rs109.1bn cleared by the Government.

A consortium of Emirates Trading Agency LLC and KMC Constructions Ltd. won a Rs19bn contract to widen 225.6 kilometers road in Haryana and Rajasthan, Dutt said. IRB Infrastructure Developers Ltd. and Deutsche Bank AG won a Rs17bn contract for a project covering 239 kilometers in Gujarat and Maharashtra.

A group comprising Malaysia’s IJM Corp. and Infrastructure Development Finance Ltd. (IDFC) bagged a Rs6.75bn order for a project in southern India. Spanish construction group Grupo Isolux Corsan SA won a Rs27.5bn contract to widen a 291-kilometers road stretch between Haryana and Punjab, Dutt said.

Source: indiainfoline.com

Written by ITW Editor · Filed Under Larsen & Toubro Ltd. (L&T)

Punjab farmers bandh peaceful

February 19, 2008

The day-long bandh call given by around 17 pro-kisan organisations seeking waiving off debt and opposing privatisation of state electricity board passed of peacefully in Punjab.

Several farmers’ organisations are protesting the Government’s proposed move to privatise the state electricty board, put up toll plazas under the Build Operate and Transfer (BOT) schemes and sale of public property to generate revenue and demanding waving off Rs 26000 crore debt on state peasantry.

To lodge protest, farmers owing allegiance to Kirti Kisan Union, Bharti Kisan Union, Kisan Sangarsh Committee, Bharti Kisan Committee, Punjab Nirman Sabha, Naujwan Bharat Sabha, Paendu Mazdoor Union and Kranti Kisan union among others blocked vehicular traffic at several places on the national and state highways for about two hours, officials said here.

However, during the bandh call no untoward incident was reported from any part of the state, they said.

Activists of several kisan organisations staged dharnas in the middle of roads at several places across the state, putting commuters to lot of inconvenience.

However, the bandh failed to evoke any response in the cities as all commercial establishments remained opened throughout the day.

At several places, the traffic was diverted in advance by the authorities.

Reports of traffic blockades have been received from Kapurthala, Jalanndhar, Phagwara, Muktsar, Ferozepur, Bathinda, Moga and Faridkot.

Source: hindu.com

Written by ITW Editor · Filed Under Uncategorized

Cial has non-metro, foreign airports on radar

November 21, 2007

It plans to participate in the modernization of the 35 airports in the country, apart from the overseas projects

New Delhi: Cochin International Airport Ltd (Cial), the company that built the new international airport at Kochi, India’s first to be built by a private sector firm, is looking to build airports in India and in other countries in an effort to tap growing demand for airline infrastructure in many parts of the world.

Cial plans to participate in the modernization programme of 35 non-metro airports in the country and also wants to build airports in Sri Lanka, Ghana, Angola and Papua New Guinea, according to S. Bharat, managing director, Cial.

Cial was promoted by the Kerala government, financial institutions, airport service providers, non-resident Keralites and a group of entrepreneurs.

The single largest shareholder in the company is the state government with 35% of the paid-up capital.

Bharat added that Cial is in talks with an international finance company and a technical partner to promote a new company that will handle these projects.

Cial’s overseas plans come at a time when international airport operators such as Singapore’s Changi Airport International (CAI), Airport Company South Africa Ltd, Fraport AG and other leading players from Mexico, Turkey, Paris and Germany are looking to partner with Indian companies to bid for airport projects in the country. Singapore’s CAI had floated a joint venture company with Tata Realty & Infrastructure Ltd, a subsidiary of the Tata group for the airport modernization projects in India.

If it wins any of the projects to build airports outside the country, Cial will be following in the footsteps of Bangalore-based GMR Infrastructure Ltd, the lead partner in the consortium that runs Delhi International Airport, which will be developing Sabiha Gokeen International Airport (SGIA) at Istanbul, Turkey. GMR’S partners in this project are Malaysia Airports Holdings Berhard and Limak Insaat Sanavi San Ve Tic A S Turkey.

Bharat confirmed Cial’s overseas aspirations.

“The government of Sri Lanka has invited us to study the possibilities of building an airport there. We have got offers from Ghana, Angola and Papua New Guinea. Cial’s team will shortly visit those countries,” he said.

Cial plans to take up overseas airport projects on a build-operate-transfer (BOT) or build-own-operate (BOO) basis. Under the BOT model, the developer constructs and manages a project for a specified time before handing it over to the government; in the BOO model, the developer continues to operate the project with a local partner.

“The funding of these airport projects would be done by a special purpose company formed under Cial,” Bharat said.

He declined to name the international partners citing confidentiality agreements.

“We are also looking at bidding for the ongoing airport projects within India as we can make airports at lower cost,” Bharat added. The Cochin airport was built at a cost of Rs315 crore including the cost of land.

A government committee on infrastructure, headed by Prime Minister Manmohan Singh, has estimated that India will need to spend more than Rs40,000 crore in developing airports between 2006-07 and 2013-14. Of this, an estimated Rs31,100 crore is expected to come from public-private partnerships.

The ministry of civil aviation has decided to modernize and upgrade 35 non-metro airports across India.

Besides, the government is also planning to build greenfield airports at Navi Mumbai (Maharashtra), Kannur (Kerala), Hassan and Gulbarga (Karnataka), Ludhiana (Punjab), Greater Noida (NCR), Paykong (Sikkim), Cheithu (Nagaland) and Chakan (near Pune, Maharashtra).

“At a time when current airport modernization programmes envisage spending at least Rs5,000 crore for a single project, Cial had built a world class product on a very modest budget. Cial can cash in on its expertise in the upcoming non-metro airport projects,” said a Mumbai-based aviation analyst, who does not want to be identified because he is not authorized to speak to the media.

Written by ITW Editor · Filed Under Investment and Finance, Media

NKG Infrastructure Limited files DRHP with SEBI

October 3, 2007

NKG Infrastructure Limited (the “Company”), an ISO 9001:2000 Certified Construction Company, engaged primarily in execution of infrastructure projects like Highways, Roads & Bridges, Extension and Grading of Runway at airport, errection and installation of power sub-station and construction of buildings has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India (“SEBI”) to enter the capital market with its initial public offering of equity shares. At present, it is executing 67 projects including projects in joint ventures across various states in India. The value of projects under execution is Rs. 526.87 cr.

The Company proposes to issue 63,00,000 equity shares (the “Issue”) of Rs. 10 each for cash at a price to be decided through a 100% Book-Building process constituting 44.41% of the fully diluted post issue paid-up capital of the Company. The objects of the Issue are to deploy the proceeds for funding the capital expenditure requirements, investment in joint venture & BOT projects & augmenting the working capital resources.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. The Book Running Lead Manager (“BRLM”) to the Issue is SPA Merchant Bankers Limited.

Incorporated in 1989, the Company is engaged primarily in execution of infrastructure projects and civil construction projects. Recently the Company has diversified into installation and erection of electric substations, with project for installation / testing / commencing of external electrical works in Gomti Nagar, Lucknow. The major projects of the Company are in the state of Uttrakhand, Uttar Pradesh and Madhya Pradesh. It is also executing/executed projects in the states of Haryana, Punjab, Gujarat, Himachal Pradesh & Pondicherry. Its major clients include Public Works Department & other agencies of various state governments & development bodies like Noida Development Authority, Lucknow Development Authority, Ghaziabad Development Authority, etc. It is also executing project for Airport Authority of India in joint venture for extension and grading of runway at Pant Nagar airport. The private sector clients include construction companies like Era Construction India Ltd., Nagarjuna Construction Company Ltd. and Marg Construction Ltd.

Source: moneycontrol

Written by ITW Editor · Filed Under Investment and Finance