India's construction industry grew 4.8% for the year ending in March, down from 8% the previous year, with new impacts from a softening economy, rising materials costs and corruption, according to the government's latest economic survey and other reports.The rising cost of cement, bricks, steel and other other key materials, up by as much as 30% over the past few years, has taken a toll on construction-sector performance, says the survey.Other officials point to inflationary pressures and high interest rates, coupled with a severe shortage of skilled manpower, that have increased project delays.For the year ending in March, the National
Even as India moves to complete by this fall a planned 45-MW hydroelectric project on the Indus River, it still faces objections from neighboring Pakistan to the structure's design and to the award of U.N. carbon credits.
India plans to boost infrastructure spending to $1.2 trillion as part of the country's 12th Five-Year Plan for the years 2012-2017, with the amount set to come from private investment rising to 50% from, during the last plan, 30%. Finance Minister Pranab Mukherjee noted the figures on March 16, when he announced the country's 2012-2013 budget.
India’s leading real estate developer, a major U.S. builder and a London-based hedge fund have formed a joint venture to build integrated residential commercial projects worth $25 billion over the next 20 years throughout the emerging nation.The venture's key partners are India's Sahara Prime City Ltd., investment firm Acropolis Capital Group and Turner International, the international subsidiary of Turner Construction Co., New York City. With an initial investment of $100 million, the Mumbai-based company will operate under the name Sahara Turner Construction Ltd. Sahara Group holds a 63% stake.In its first five-year program, the venture says it will build new
India and China’s past disputes over border issues are now moving to the economic front. As China becomes India’s largest trading partner, Chinese construction companies are gearing up to cash in on by Indian plans to invest over $1 trillion in infrastructure in the next five years.Chinese enterprises have already completed infrastructure projects in India worth more than $10 billion and are involved with nearly $6 billion in projects in nearby Sri Lanka. China has become a larger presence there than even its traditional investor-donors, India and Japan. India’s discomfort was clear when prospective bidders for the 22-km long bridge
India and China’s past disputes over border issues are now moving to the economic front. As China becomes India’s largest trading partner, Chinese construction companies are gearing up to compete for infrastructure work there against local firms and to follow them to growing markets in nearby countries.Chinese enterprises have already completed infrastructure projects in India worth more than $10 billion and are involved with nearly $6 billion in projects in nearby Sri Lanka. China has become a larger presence in that island nation than even its traditional investor-donors, India and Japan. India’s discomfort was clear when prospective bidders for the
Image by Maharashtra State Road Development Corp Mumbai's rail and roadway development is constrained by the island city's geography. Image courtesy Stup Consultants This potential design for the Mumbai Trans-Harbour Link bridge was submitted in 2005. India’s longest sea-link project is drawing international bidder interest. The 14-mile Mumbai Trans-Harbour Link bridge will connect Sewri, located in the northeast of Mumbai, to Nhava Sheva, located in Navi Mumbai, across Thane Creek, an Arabian Sea inlet.Due to Mumbai’s geographic isolation on a collection of islands, India’s largest city has limited expansion options for rail and road corridors. Being developed by the Mumbai
Courtesy of HCC The $8-billion Lavasa development, a 1,500-acre new hill town planned according to the principles of new urbanism, is one bright spot on the nation's horizon. India is beginning to face both the myriad problems of its urban centers and the many opportunities for economic and social transformation.By 2030, a $1.2-trillion investment will be required to meet projected demand for the 700 million to 900 million sq m of commercial and residential space, says a McKinsey Global Institute report. The real estate development is equivalent to building a new Chicago every year.In addition, 2.5 billion sq m of
ENR The plant is sited in the southern Indian state of Tamil Nadu, a key region for the fishing industry. Commissioning of the 1,000-MW first reactor of the Kudankulam nuclear powerplant in India has ground to a halt due to protests by the local population. Originally scheduled for December, commissioning and start up of the estimated $3-billion plant in the southern state of Tamil Nadu was moved to March 2012 because protestor blockades have prevented engineers from gaining entry into the plant.Stricken with delays since it was first conceived in November 2008, the plant has been the target of safety