Plan (T) Growth
ECONOMY & POLICY

Plan (T) Growth

Arvind Nanda, Managing Director, Interarch Building Products, heads the company, a leading player in the Pre-Engineered Building (PEB) industry, which invested over Rs.950 million for its fifth PEB manufacturing plant (fourth fully integrated unit) in Nellore District, Andhra Pradesh and also m...

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Arvind Nanda, Managing Director, Interarch Building Products, heads the company, a leading player in the Pre-Engineered Building (PEB) industry, which invested over Rs.950 million for its fifth PEB manufacturing plant (fourth fully integrated unit) in Nellore District, Andhra Pradesh and also made an initial public offering [IPO] of equity shares aggregating to Rs.6,000 million. The investment for phase 1 will increase the company’s installed capacity by 20,000 million tonne [MT] per annum. The manufacturing facility has capabilities to manufacture pre-engineered steel (PEB) structures, metal roofing and cladding systems. It will contribute significantly to the region's growth with the highest standards of efficiency and quality. The company is not only expanding production capacity but also creating new employment opportunities. Phase 1 of the plant, built at an investment of Rs.400 million generated job opportunities for about 250 people. Phase 2 will increase the company’s installed capacity by 40,000 MT, increasing the overall capacity to 0.2 million MT per annum and will create jobs for about 500 people.

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Building Material

Ambuja to join alliance for Industry Decarbonisation

Adani Group's Ambuja Cements announced that it had joined the Alliance for Industry Decarbonisation (AFID), a global collective aimed at accelerating the Net Zero transition in line with the Paris Agreement. According to the statement, Ambuja is the first cement manufacturer globally to join AFID, a platform for exchanging insights and experiences among stakeholders in energy-intensive industries. The company revealed its goal of achieving Net Zero by 2050, with targets validated by the Science Based Targets initiative (SBTi). Ambuja has also committed to investing Rs 100 billion in renewable ..

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Infrastructure Urban

Maharashtra revises stamp duty rates

A cash-strapped Mahayuti government – burdened with spiralling loans, budgetary provisions for populist schemes such as Ladki Bahin, Ladka Bhau and all – has decided to revise stamp duty rates, a move likely to add Rs 20 billion to its kitty. The decision will change stamp duty structure ranging from a small sum such as Rs 100 – which until now, was applicable for the registration of documents – to an unspecified amount, depending on the value of the amount involved in awarding work contracts, amalgamation, restructuring, division and mergers. The state cabinet decision, taken on Monda..

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Real Estate

MHADA sends 1,200 notices to developers

The Maharashtra Housing and Area Development Authority (MHADA) has issued approximately 1,200 notices to various developers and housing societies in Mumbai as part of its initiative to take control of stalled redevelopment projects on their properties. This move follows an amendment to the Maharashtra Housing and Area Development Act of 1976, which granted MHADA the authority to independently oversee redevelopment on its plots when developers and residents fail to propose any plans for residential building redevelopment, regardless of the reasons for the failure, such as disputes or ongoing li..

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