Adani Seeks $1 Billion Investment
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
MMRDA Extends Rs.14,000 Crore Road Projects
The Mumbai Metropolitan Region Development Authority (MMRDA) has granted a two-month extension for major road projects valued at Rs14,000 crore. These projects faced delays after construction giant Larsen & Toubro (L&T) challenged certain tender processes in the Bombay High Court. The legal challenge raised concerns about fairness and compliance, resulting in a pause on some key road developments. The extension is expected to provide additional time to resolve the legal issues and ensure that the projects, critical for improving road infrastructure across Mumbai and surrounding areas, ..
Indian Construction Sector to Grow Strongly
ICRA has projected a 12-15% revenue growth for India’s construction sector in FY25, driven by the government's emphasis on infrastructure development. Key initiatives, such as road construction under the Bharatmala scheme, rail network expansions, and urban infrastructure projects like the Smart Cities Mission, are expected to fuel this surge. The report highlighted a healthy order book for construction companies and a strong financial position, positioning them for continued growth. Rising investments in roads, bridges, and transport infrastructure reflect the government's strategy to suppo..
ArcelorMittal South Africa Sees Profit Decline
ArcelorMittal South Africa reported a significant decline in its annual profit, plummeting by 62% amid falling steel prices. The steelmaker's financial results reflect challenging market conditions, primarily driven by reduced demand and increased competition. The company faces pressure from global economic fluctuations, impacting its operational efficiency and profitability. This decline highlights the volatility in the steel market, influenced by factors such as oversupply and sluggish demand in key sectors. As ArcelorMittal navigates these challenges, it aims to adapt its strategies to miti..