India Construction 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.

• October 2023: Gamuda Bhd entered into a joint-venture agreement with Sabah Energy Corp Sdn Bhd (SEC) and Kerjaya Kagum Hitech JV Sdn Bhd (KKHJV) to undertake a private finance initiative for the development of the MYR 4 billion (USD 0.86 billion) 187.5 MW hydroelectric power plant in Tenom, Sabah.
• July 2023: IJM formed a partnership with FMM Elmina Sdn Bhd to develop two logistics hubs on a 22-acre site in the City of Elmina, Shah Alam, marking its maiden industrial property development in the Klang Valley.

• 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.

November 2023: Dubai-based developer Wasl granted a construction contract worth AED 1.2 billion (USD 1.4 billion) to China State Construction Engineering Corp., a Beijing-based company, to construct The Island, a 26-acre development that is expected to be the first in the region to allow legal gaming. A total of 1,400 hotel rooms are planned for the development.

September 2023: Hassan Allam Holding, one of Egypt's leading construction companies, announced its expansion into the United Arab Emirates on the occasion of 'Building Boundless Horizons: From Egypt to the UAE'.

August 2023: ADNOC Gas, the world's leading integrated gas processing company, announced that it was awarded a contract for AED 13.1 billion (USD 3.6 billion). This contract will enable ADNOC Gas to extend its gas processing facilities in the United Arab Emirates by commissioning new facilities and providing an optimal supply to the RUWAIS Industrial Complex.

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 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.

• June 2023: AXA XL's North American construction insurance business launched the Sustainability Circle. It is a network comprising 21 leaders in the sustainable construction industry. The goal of the initiative is to assist clients achieve their sustainability goals and enhance their construction risk management efforts.
• April 2023: Greystar Real Estate Partners LLC (“Greystar”) opened 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 employed 170 full-time employees to execute the ramp-up and operations of its first modular factory.

• 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: 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.