India Infrastructure Sector News

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• February 2024: Tata Steel, a prominent private steel firm, unveiled its partnership with South Eastern Railway (SER). The collaboration aims to foster sustainable rail infrastructure by leveraging slag-based aggregates.
• January 2024: Highway Infrastructure Trust (HIT) finalized deals with PNC Infratech Ltd and PNC Infra Holdings Ltd, acquiring 12 road projects at an enterprise value of INR 90.06 billion (USD 1.08 billion). This portfolio includes 11 Hybrid Annuity (HAM) concessions from the National Highways Authority of India (NHAI) and 1 toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). Spanning across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka, these projects encompass approximately 3,800 lane kilometers, as stated by HIT.

October 2023: Lendlease and Daiwa House announced a new joint venture marking the start of construction. Lendlease, a global real estate group headquartered in Sydney, will develop and construct the new homes, which have an end value of circa GBP 250 million, and retain a 25% interest in the project, which will be the final stage of residential development at Elephant Park.

July 2023: Mastry Ventures and LENx, the venture subsidiary of Lennar, co-invested in Vessel Technologies' next-generation housing product. The Vessel System housing system will focus on reimagining apartment buildings as a consumer product by making them attractive, sustainable, and user-centered at affordable prices. It will achieve results by prefabricating wall and ceiling components in the Vessel's factory, which would cut costs and time as opposed to conventional construction methods.

• August 2023: The leading Kuwaiti developer Mabanee awarded a construction contract worth SAR 3.66 billion (USD 985 million) to a joint venture of Saudi group AlKifah Contracting Company and Kuwait-based Al Ahmadiah Contracting for Phase One of its premium mixed-use project in Saudi Arabia.
• April 2023: The Public Authority for Housing Welfare (PAHW) in Kuwait granted a USD 367 million contract to Kuwait Arab Contractors for infrastructure services related to the South Sabah Al Ahmad City project. The contract encompasses the construction, finalization, and maintenance of main road networks within the South Sabah Al Ahmad City area, along with the provision of infrastructure services and the installation of rainwater tanks. According to the report, the entire project is slated for completion within the next three years.

• May 2023: Sika acquired MBCC Group after receiving all necessary regulatory approvals. With this highly complementary transaction, Sika strengthened its footprint across all regions, reinforcing its range of products and services across the entire construction life cycle and driving the sustainable transformation of the construction industry.
• April 2023: China-based Huaxin Cement acquired a 60% stake in Oman Cement. The group completed the transaction via Abra Holdings, a wholly-owned subsidiary incorporated in Mauritius. In a submission to the Hong Kong Exchange, Huaxin Cement stated the estimated purchase price for the stake as USD 193 million.

• November 2023: Algeco, the world’s largest modular and off-site building solutions brand in Europe, has secured a large order for new, state-of-the-art GRIDSERVE Electrical Forecourts® The latest generation of Algeco modular buildings are helping to meet the increasing demand for GrisEnergy Electric Forecourts®, across the nation.
• September 2023: ADRA in Spain, with the help of donors and partners within ADRA's global network, has funded the construction of 8 prefabricated shelters in one of the villages in the Atlas Mountains near the epicenter of the earthquake in Morocco. The project consists of 8 modular houses, each 16 square meters (172 square feet) long, that will provide families with a temporary, safe, and high-quality shelter. Each module will have 4 bedrooms, a latrine, a shower, and a communal kitchen. An outdoor area will be provided for children to have a place to play.

• December 2023: Masdar entered into contracts with PLN, Indonesia’s state-owned public utility company, to propel significant development initiatives for Southeast Asia’s largest floating solar power plant (SPS) and investigate possibilities in green hydrogen. This collaboration has resulted in the initiation of the world’s largest floating solar power station (SPS) project, the 145MW “Cirata” (Cirata reservoir) in West Java, Indonesia, which commenced operations in December 2023.
• December 2023: Gravel secured funding from NEA to bolster Indonesia’s thriving construction industry.

• December 2023: Recently, "Engineering News-Record" (ENR), one of the world's most authoritative academic journals in engineering and construction, announced the winners of the 2023 Global Best Projects Awards. I received awards for two projects. The Lamu Port Berth 1-3 Project was honored with the Award of Merit in the Airport and Port category, while the Peljesac Bridge and its access roads in Croatia received the Award of Merit in the Bridge and Tunnel category.
• July 2023: The Shaoxing Metro Line 2, constructed by CRCC, officially opened, marking the commencement of a new era of automated and driverless subway systems in Shaoxing. This 10.8-kilometer line, featuring nine stations, represents Shaoxing's inaugural automated and driverless subway and the second in Zhejiang Province. As a co-host city with the most events for the Asian Games, the inauguration of Line 2 will further boost the development of the "Commuting Circle" for the Hangzhou Asian Games, providing robust support for the successful hosting of the event.

• December 2023: Leading renewable energy provider Scatec ASA closed the first 60 MW of the Mmadinare 120 MW Solar Complex and is on track for the start of construction of the first utility-scale solar project in Botswana.
• November 2023: Teraco, South Africa’s largest data center provider, completed an expansion of its Durban facility, bringing the total area of space to 5,800 square meters (62,430 square feet). Teraco’s Durban facility opened in 2011, providing 1MW across 600 square meters (6,460 square feet). In 2018, a previous expansion was announced, adding 1,000 square meters (10,765 square feet) of white space to the site, bringing the total space to 2,000 square meters (21,530 square feet).

• May 2023: Greystar Real Estate Partners LLC (“Greystar”) announced the launch of a new dedicated brand. It will exclusively focus on Greystar’s impact housing product, delivering more attainable housing opportunities for key populations affected by the lack of rental options in the United States.
• April 2023: Greystar Real Estate Partners, LLC (“Greystar”), announced the opening of its flagship manufacturing facility for its modular construction business, Modern Living Solutions (“MLS”), which focuses on attainable and sustainable housing. The milestone was met with a ribbon-cutting ceremony at the western Pennsylvania site where MLS is in the process of hiring 170 full-time employees to execute the ramp-up and operations of its first modular factory.

• November 2023: COFICO and joint venture partners TVC and Searefico opportunistically attended the Taking Over Singing Ceremony of The New Betalactam Factory that Meets Global GMP Standards for the Investor – DHG Pharmaceutical Joint Stock Company. The project is located at Tan Phu Thanh Industrial Park – Phase 1, Chau Thanh A district, Hau Giang province, with a total project area of about 6 hectares. It is expected that after completion and operation in 2024, the Betalactam factory will meet global GMP standards, requiring high technical specifications in the stages of design, construction, and finishing. This project holds particular significance for the plan to develop high-quality product lines and deliver numerous qualified product lines to replace imported drugs for consumers of DHG Pharma.
• October 2023: Song Da Corp JSC invested in the implementation of the 500kV circuit 3 line projects (from Quang Trach, Quang Binh, to Pho Noi, Hung Yen) at the Government Headquarters. Deputy Prime Minister Tran Hong Ha requested the Ministry of Industry and Trade to strictly adhere to the specific planning and critical paths (charts) of the project's implementation progress, in accordance with the Prime Minister's direction. According to a report by Vietnam Electricity Group (EVN), the 500 kV line circuit 3 (from Quang Trach, Quang Binh, to Pho Noi, Hung Yen) includes four component projects: Quang Trach - Quynh Luu, Quynh Luu - Thanh Hoa, Nam Dinh 1 - Thanh Hoa, and Nam Dinh 1 - Pho Noi.