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ArcelorMittal South Africa Sees Profit Decline
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
Adani Seeks $1 Billion Investment
Adani Group is currently negotiating with a Middle Eastern sovereign wealth fund to secure a $1 billion investment for its airport operations. This strategic move is part of Adani's broader effort to bolster its position in India’s fast-growing aviation sector. The funds are expected to enhance infrastructure development, improve operational efficiencies, and support expansion projects across its portfolio of airports, including major hubs like Mumbai and Ahmedabad. By attracting foreign capital, Adani aims to accelerate growth, strengthen its airport management capabilities, and tap into th..
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..
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