March 31 - April 06, 2014 1

Volume 3 l Issue No 13 l March 31 - April 06, 2014 l Price: Rs 100An MMR, Braj Binani Group Publication

Slump in infra investment hits

India’s growth: IMFThe slump in infrastructure and

corporate investment has been the single largest contributor to India’s recent growth slowdown, said an IMF working paper, ‘India’s Investment Slowdown: The High Cost of Economic Policy Uncertainty’, by Rahul Anand and Volodymyr Tulin.

It finds that heightened uncertainty regarding the future course of

ACC plans waste-heat recovery system

After commissioning its f i rst waste-heat recovery plant at Gagal in Himachal Pradesh, ACC plans to replicate the success at its cement plants in Wadi (Karnataka), Jamul (Chhattisgarh), Kymore (Madhya Pradesh) and Chanda (Maharashtra) with an investment of about Rs 360 crore.

The Gagal heat recovery plant, which produces 7.5 mw, achieved stabilization last week. It is expected to reduce over 44,000 tons of carbon-dioxide emission a year. ACC invested Rs 100 crore to set up the plant which is fitted with a turbine that can enhance power production to 9 mw as and when steam availability in the cement plant improves.

ACC expects to recover the investment made in Gagal in four-and-a-half years with an annual saving of Rs 22 crore. K N Rao, Director (Energy & Environment), said that the four cement plants where the heat recovery system would be installed over three-four years are capable of producing 30-32 mw in all, resulting in a savings of Rs 90-100 crore a year. “The Wadi cement plant has the world’s largest

kiln and is capable of producing up to 9 MW. We are exploring various options of funding the projects,” said Rao.

The cement industry has urged government to give renewable energy status to waste-heat recovery plants. Most of the cement companies are power surplus as they have captive power plants. The surplus power produced through waste heat is sold at Rs 2.30 a unit due to lack of renewable energy status.

A few cement plants buy grid power at Rs 6.20 a unit, while the production

As companies find hiring skilled labour difficult even for the existing projects, builders and highways associations under Construction Skills Development Council (CSDC) have come together to train and certify around 3.5 lakh workforce in the construction sector over the next one year. The trainees would also get at least Rs 10,000 as stipend to help them pay training fees and look after their living while being trained.

“We need to employ 300 million people in the next 20 years. The US employs around 135 mill ion people. If we need to employ that many people it would require that much investment and skills to take up the job. That is where the skill development exercise would help firms and workers together,” said Ajit Gulabchand, Chairman, HCC.

To begin with, six skills —masonry, carpentry, bar bending & fixing, scaffolding, surveying and assistant laboratory technicians —have been identified for training on urgent basis. The skills under the programme for certification are expected to increase to around 500 in the construction segment alone. “We will work jointly with large private companies and institutions to devise industry-based

curriculum, set training standards, offer good quality vocational training, and provide industry-endorsed certification,” he said.

The Government of India has planned an investment of $1 trillion in the infrastructure sector in its 12th Five-Year Plan. The construction sector needs to build capacity and hence it is important to train up skilled manpower. The training would take care of requirements within the real estate, residential, commercial, industr ia l and Sez sectors. In the infrastructure arena, utilities like power and irrigation, urban infrastructure, and transportation, railways, civil aviation, roadways, and ports would be catered.

“The certificate would clearly outline the productivity of the worker and how much they are capable of producing, which would help the employers to hire them as per their need. The trainee would undergo set number of hours of training and would be assessed by the third party before they are certified by CSDC. The training increases productivity and fetches better salary for workers at a time when construction activity and labour have seen de-growth,” added Gulabchand.

Builders, highway unions to train 3.5 lakh

workforce

broader economic policies and deteriorating business confidence have played a significant role in the recent investment gloom.

“We find that heightened policy uncertainty has had a particularly pronounced link with the decline in new investments as well as with the rising value of investments that were postponed or cancelled. After

controlling for these factors, financing costs do not appear to be a critical factor in explaining the decline in new investments,” the paper said.

“In the short term, lowering nominal interest rates may provide some relief in terms of a reduced interest burden, especially to corporates with high leverage,” recommended the IMF working paper.

cost of thermal power works out to Rs 4.50-5 a unit. The industry with a cement production capacity of 350 million tons is capable of producing about 1,000 mw through waste heat recovery, said Rao.

“The industry has to invest Rs 12,000 crore to set up 1,000 mw heat recovery plants. It would be viable only if government fixes a competitive price for the surplus power,” he said. Apart from heat recovery plant, ACC has drawn an elaborate plan to bring down energy consumption by 5 per cent at its 10 plants by improving efficiency. The Australia-based infrastructure

investor Hastings Funds Management Ltd (HFML) has struck up a partnership with the Aditya Birla Group as it looks to extend its reach into India, according to sources familiar with the matter.

HFML sees new opportunities for investors as India looks to plug the infrastructure gap with investment in everything from roads to electricity grids topping $1 trillion.

“A huge infrastructure need is building up,” said a top official from HFML. He didn’t say how much money the new fund was targeting, but

Hastings already manages about 7.4 billion Australian dollars ($6.9 billion) in infrastructure assets globally.

The firm is keen to tap the Indian market as it looks to expand its presence in Asia, where so far it has focused on the more developed markets of South Korea and Japan. The partnership with Aditya Birla will initially offer debt financing through a dedicated India fund for already-built infrastructure, such as airports and toll roads. For now, the two companies say they aren’t looking to finance fresh infrastructure projects through the venture.

Aditya Birla, Hastings in agreement for infra financing

March 31 - April 06, 2014 2domestic

Indian Railways track global infra projects

The Indian Railways might be struggling to make both ends meet due to its falling revenues but its public sector units are going beyond the seven seas to increase their revenues. The Rail India Technical & Economic Services (Rites), a PSU under the Railways’ administrative control that operates as consultant for transport and infrastructure projects, has bagged the contract to prepare Kenya’s overall transport plan comprising roads, railways and ports.

“Kenya has a big coast line and it wants to be the sea contact for other landlocked African nations. We’ll be preparing an integrated plan for their railways, ports, airports, waterways and road network. We also did the same plan for India, out of which the dedicated freight corridors network

plan was born,” said a senior Rites official. The official refused to share the cost of the contract. Rites is also in the race for similar contracts in other East African countries.

The PSU has already completed internat ional projects such as operat ion and maintenance of Bangladesh Railways, study for improvements to the railway tracks of Botswana Railways, feasibility study and technical assistance for rehabilitation of rolling stock and bridges of Cambodian Railways, and operation and maintenance of the Baghdad-Al Qaim-Akashat section.

It has also done revitalization study and investment plan of Nigerian Railways, operations improvement plan and decentralization studies for Tanzania Railway Corporation, railway efficiency improvement project for

Uzbek Railways, and investment plan for the National Railways of Zimbabwe.

“We are internationally recognized as a leading consultant with operational experience in Africa, South-East Asia, Middle East and Latin America. Most Rites assignments are for national governments and other apex organizations,” said the official.

Another Railway PSU, the Indian Railway Construction Company (Ircon) is also looking for electrification projects in Iran. At present, the company is imp lement ing an electrified double track railway line costing more than $1 billion. Ircon has widespread operations in Bangladesh, Mozambique, Ethiopia, Afghanistan, UK, Algeria and Sri lanka. Ircon had a net worth of Rs 2,300 crore at the end of 2012-13.

The Buildings & Factories Business of L&T Construction has won new housing orders worth Rs 1,981 crore in March 2014. A major residential order has been bagged in Bengaluru from one of South India’s leading property developers which is also the company’s biggest residential order in this financial year.

The scope of work involves civil, structural, MEP and finishing for 24 towers and 271 villas. The towers will comprise two basements plus ground floor with levels varying from 18 floors to 29 floors. The project is scheduled to be completed in 42 months.

Another order has been received from an esteemed customer for construction of residential township in Gujarat.

The wait for South Korean giant Posco to start its Rs 52,000 crore Odisha steel project, involving the largest-ever FDI in India, may get longer as the state government is not expected to transfer the required land to it till after the Lok Sabha polls are over in mid-May.

T h e s t e e l m a k e r s e c u r e d environment clearance in January for its 12 million-ton (mt) plant, ending eight years of wait for the project. However, a source said, “There is no progress on the project as the state government has not transferred remaining 1,000 acres to Posco. During a review by the Steel Ministry this month to know the fate of major projects, Posco had expressed inability to start work on the steel-to-port project at Jagatsingpur in the absence of adequate land. “

The steel giant had inked a pact with the Odisha government in June 2005 to set up the integrated steel plant and port project on 4,000 acre in the coastal town of Jagatsinghpur. It needs 2,700 acre to commence work on the first phase, while the state government has already transferred 1,700 acre to it.

Of f ice space absorpt ion is likely to rise 7 per cent this year to 29 million sq ft in India’s seven major cities as corporates look at expanding businesses, says global real estate consultant DTZ. The absorption was 27 million sq ft last year in the seven cities -- Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata.

In its report on India office demand & trends, DTZ also projected that office rentals would remain stable in

The project involves turnkey construction of 134 housing units. The construction includes civil, structural, MEP, finishes and other associated works.

The Buildings & Factories Business caters to design & build construction of residential buildings, including high-rise towers, airports, information technology and institutional space, holistic health care centres, hotels, malls, cement plants, other factories and other commercial structures in domestic and international market.

“One of our key focus areas has been the growing potential in the residential sector and by winning these prestigious orders we have made significant inroads into this space,” said S N Subrahmanyan,

The steel project had received initial clearance from the Environment Ministry in 2007, and final approval was granted in 2011. The National Green Tribunal (NGT), a quasi-judicial body, suspended the permit in March 2012, citing environmental concerns.

However, in January it obtained the clearance with a condition that Posco must spend 5 per cent of its total investment on “enterprise social commitments”, which will push up cost by $600 million (over Rs 3,600 crore).

A company official expressed hope of a lease agreement with the Odisha government soon so that the work on initial 4 mt plant could start after the general elections. As per Posco, if everything goes as planned, the phase-1 of the project might be commissioned in 2018; phase-2 will be completed three years after completion of phase-I, and phase-3 will be commissioned within three years after phase-2. Last year, facing inordinate delays in land acquisition and local opposition, Posco scrapped its proposed Rs 30,000-crore project in Karnataka.

most markets in the first half of 2014 and rents would start rising from the second half. “Most corporates are expected to firm up plans for expansion in the next few months with the overall take-up forecast to grow in 2014, especially in the second half of the year,” said DTZ.

Highlighting the findings of the survey-based report, DTZ India Research Head Rohit Kumar said that 41 per cent of the respondents said they would add office space.

Member of the Board and Senior Executive Vice President (Infrastructure & Construction).

L&T Construction wins orders worth `1,981 cr

DTZ office space demand to grow by 7 pc in 2014

S N Subrahmanyan, Senior Executive Vice President, L&T (Infrastructure & Construction)

Demand would be led by the IT/ITeS sector (40 per cent) followed by manufacturing and BFSI sectors.

Bengaluru would continue to be the largest contributor in office space demand. On rent, the survey said about half of the respondents expect rents to remain stable in the first half of 2014. “But the majority of respondents agree that rents will record a moderate increase over the course of the next 12 months.”

The Faridabad-Noida-Ghaziabad (FNG) Expressway project has finally been put on the fast track. Along with the residents of the three prominent satellite cities of the national capital—who will delight at the prospect of getting better connectivity with the rest of the region—the real estate market along the stretch is also expected to witness a lot of action.

As per reports, the area has already seen price appreciation in property rates by as much as 20 per cent since 2010, and the demand is only expected to rise further as the expressway project becomes a reality.

Realty players unanimously feel the corridor will make the region more accessible to the rest of the National Capital Region (NCR), leading to more demand for development. Brijesh Bhanote, Director, sales and marketing, 3C Company, says, “The work on the FNG Expressway has been speeding up in the past few months and it will increase the demand, leading to higher appreciation of timely investments. It is expected that the expressway will be functional in

the next year, connecting the satellite towns of Delhi. As per reports, the area has seen price appreciation in property rates by 15-20 per cent since 2010. Hence, it will be a good decision for developers, as well as property buyers, to invest in this area.”

After over two decades, the project has finally been revived. The FNG Expressway is 43 km long and is set to cost Rs 1,000 crore. Around 21 km of the expressway fall under the purview of the Noida authority, which has completed work on 16 km so far. The rest of the expressway lies in Faridabad and Ghaziabad.

The development of the FNG Expressway is great news in terms of traffic decongestion, along with real estate development along the stretch. However, as with any infrastructure-related project, the benefits of the FNG Expressway will take time to reach the masses. As per industry estimates, approximately Rs 13,500 crore have been invested in the residential sector and about Rs 7,000-8,000 crore in the commercial sector along the FNG corridor.

FNG expressway puts realty on fast track

Progress on `52,000-cr Posco project likely

after polls

March 31 - April 06, 2014 3iN PeRsoN

Established in 1950, Ravin Group is one of India’s fastest growing business groups. I t comprises companies managing d iverse business interests in the power and energy sector. It offers comprehensive solutions across five verticals like manufacturing, renewable energy, EHV & accessories, trading, and EPC services in the field of renewables, cable laying, cable jointing and termination, sub-stations, etc.

The group’s focused approach towards project management enables the creation of world-class projects and innovative solutions.

What is the growth rate of the wire & cable industry in India at present, and is the demand for wires and cables going further? Any emerging areas of applications?

The growth rate of the wire and cable industry in India has considerably slowed down over the past few years. Earlier, from a positive growth rate of 10-12 per cent, we have come to a negative growth rate now.

Besides, there has been a vast increase in installed capacity and the fact that a huge payment crisis exists in the market, which has added to the woes of the industry.

The present government policies are very short-sighted and rather than encouraging growth, have actually retarded the process. The spend on infrastructure capital expenditure has been very low and unless this is not changed drastically, we will not see any growth for this industry in coming years. At the moment it seems that only a change in government can spur the prospects of growth for the entire electrical segment.

There are lots of emerging areas of applications, especially on the renewable side. Solar applications have become the need of the hour, especially as even today the per capita consumption of electricity in India is a measly 960 kwh, and more than 50 per cent of the population does not have access to electricity.

Added to this fact is that utilities find it very difficult to supply electricity to small consumption areas, and it is not just a question of supply of electricity but subsequent month-on-month billing, and the collection of money for the same that is proving to be a big deterrent in terms of costs.

Our analyses show that a state like Maharashtra would lose about Rs 8,000 to Rs 9,000 crore per annum by way of such costs, which are actually paid for by other segments of users.

Hence, if such costs were reduced by way of solar installations in these areas, not only could we have electricity available to a lot more of the population , but it would also reduce the costs paid for by other users and could make the utilities viable without subsidies.

In India, we have brought about solar installations on single and dual axis trackers which increase the generation by up to 35 per cent with a small increase in capital costs.

India’s T&D network has many limitations and the electricity losses too are very high. What measures would you suggest?

The problem of T&D losses arises not so much from the generation point to the transmission point, but from the distribution segment. Since power distribution is mainly a state subject, it depends mainly on policies of the state governments.

‘Standardised, well-engineered products give higher ROI’

“In today’s Indian cable industry, $100 million capex for setting up a plant with a decent technology would translate into revenue of $1 billion per year. Out of these $1 billion dollars, one would easily be able to earn $100 million in the first year itself. So a foreigner who is putting $100 million will take out that amount of money in the first year, and then for the next 25 years he would be taking Indian money out of the country,” says Vijay P Karia, Chairman & Managing Director, Ravin Group of Companies, in an interview with Paresh Parmar. Excerpts:

So if they privatize distribution network, there will definitely be a big boost not only to demand for the industry, but also to savings in the power sector.

Moreover, the utilities should focus on high consumption and higher population areas which is cost viable for them, and have solar installations in thinly populated areas, even as a part of CSR activities of large corporates, which could give impetus to both urban and rural segments.

In India price weighs over quality. How do you plan to tackle this?

It is our responsibility to make people understand the importance of quality. People should know that a standardized and a well-engineered product will give higher returns on investment as compared to a non-standardized one.

Selecting quality wires is important not only as the property and life-saver, but also because it reduces electricity consumption. Poor quality wiring can cost 6-9 per cent more in terms of consumption, but more importantly a huge number of lives and property are lost in the country by way of fires.

Two recent examples that come to mind are the recent fire in a submarine off Mumbai shore, which preliminary news reports say emanated from the cables on the submarine. This was a very unfortunate loss. Another one was the fire that broke out at Mantralaya, Mumbai, a few years ago which again was due to faulty wires and cables.

It is not entirely in our hands to prevent a price war, not in terms of mere profitability, but in terms of quality suffering due to a price war.

Most of the Indian companies are currently engaged in a kind of price war. But this doesn’t sustain; and, like I said, one of our corporate pillars is sustainability. So we do not indulge in a price war. We believe in establishing direct communication with customers; we tell them what exactly drives us; for we believe that they are our biggest stakeholders.

In any company, customers are the company’s biggest stakeholders. So your customers should know what you are doing. Communication is something that we constantly try to enhance. We keep the customer posted on new products or services, quality improvement, safety standards and so on.

Any suggestions to the government for changes in the policies in favour of the industry?

I’d like to dwell on three industry-related issues on which we all should focus. wFirstly, the whole policy of

customs duty and taxation needs to be properly examined, as there is no provision for protection for the local industry in our country.

The import duty on PVC and finished cables at present is 7.5 per cent. The duty drawback on aluminium conductor in percentile is much more than what it is on cables. All import duties on raw materials for cables are 5 to 7.5 per cent. While

duty drawback on cables is 1.8 per cent.

Now, how can we be competitive in the international market? The government’s policy is rather skewed and short-sighted. We need to improve the capital infrastructure if we want to create demand – a kind of demand that lasts for a decade or two. Six-monthly policies or yearly policies will just not work. Certainly,

the capital spent on infrastructure needs to go up considerably.

Secondly, we need to protect the local industry. Local industry means the India’s local industry. I am not referring to foreign multinationals that have 100 per cent FDI. Multinational companies do not need protection because they have deep pockets. If you want to open a company in the Middle East, you have to have a local with 51 per cent partnership. You cannot open a company in China without local partnership. Why does India allow 100 per cent FDI in these areas? In today’s Indian cable industry, a $100 million capex for setting up a plant with decent technology – top-of-the-line technology – would translate into revenue of $1 billion per year. Out of these one billion dollars, one would easily be able to earn $100 million in the first year itself. So, the foreigner who is putting $100 million will take out that amount of money in the first year, and then for the next 25 years he would be taking Indian money out of the country. Why don’t we support the local people in setting up industry and why don’t we give them access to technology?

Thirdly, we need to give a boost to research and development. In the ongoing price war, R&D has taken a backseat. Fortunately, Ravin has invested a lot in R&D in new areas, which is helping us grow by launching new products. The will to launch new products should be stronger in our industry. We must not say that only foreigners can design new products.

(Contd. on pg 11)

March 31 - April 06, 2014 4iNFRAstRUctURe

CII suggests widening of national highways in Kerala

The Confederation of Indian Industry has suggested widening of national highways in Kerala. The engineering standards and guidelines provided in the Indian Road Congress for widening of NH recommended that a Right of Way (RoW) of a minimum 45 meters is essential, considering the freight movement, current and future growth of the project stretch, CII said in its report on national highways in Kerala.

The report a lso considered

Five road developers operating eight highway projects between themselves have approached the National Highways Authority of India (NHAI) to reschedule the premium they owe government. The premium is the amount that companies agree to pay government in return for bagging a road project.

It is usually calculated on the basis of the estimated toll revenues. These eight projects owe government in 20-25 years Rs 25,000 crore, and as many as 24 more road projects are now likely to also opt for rescheduling.

According to the sector sources, IRB Infra, Reliance Infra, Essel Infra, Srei Infra and Larsen & Toubro have all approached the NHAI so far, after government announced the policy, a day before the election code of conduct came into effect.

Two projects of IRB Infra, three of Reliance Infra, and one each of Essel, L&T and Srei had sought premium rescheduling until last week. The government had awarded these eight projects for a total cost of Rs 13,000

developing four-lane traffic with a minimum RoW of 30 meters without service roads. However, it came to the conclusion that this would considerably reduce the safety and the capacity of the carriageway, thereby hampering free movement of the thorough traffic due to parking of vehicles on the roadsides.

Highl ight ing the issues and challenges in widening NH, the CII cited barriers such as high density of population, restricted availability

crore. Of the 24 projects that could be rescheduled, the prominent ones include two projects of IVRCL, three of Ashoka Buildcon, three of Sadbhav Engineering and one each of GVK, L&T and GMR. “We have to study their requests and review it before a final decision is taken,” said a senior official at the NHAI.

Accord ing to the proposa l suggested by a panel headed by C Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council,

of RoW, environmental sensitivity and ribbon developments along roadsides.

It is pointed out that widening of the highway at intervals of 10 to 15 years is not possible on account of land acquisition issues and environmental factors. Since the land acquisition is a lengthy and cumbersome process, the industry body recommended acquisition of the necessary land in one go rather than doing it in bits and pieces every 10 years or so.

road developers facing a severe shortfall on the toll they expected could avail of the scheme. The premium would be rescheduled in cases where developers were unable to service their debt, operating expenditure and the payment of premium. If the projected toll revenue fell short of the cost plus premium, the government will consider the deferred amount as a loan to the developer; it is expected to charge annual interest of 10.75 to 11 per cent.

The highways sector could get a boost with government planning to roll out a new construction and development model that will make it cheaper to build and operate projects, particularly those that are unviable under present conditions.

This modif ied annuity-based model is expected to help government move from its current dependence on cash contracts to build highways, owing to lack of interest by the private sector of late, towards a workable public-private partnership, generally regarded as being superior.

The Planning Commission, which has held consultations with the National Highways Authority of India (NHAI), state governments and the private sector, is in final stages of developing new model concession agreement (MCA) that it is expected to be launched in next two weeks or so, said officials.

Under this new model, 50 per cent of the project cost will be paid to the concessionaire in the construction period. The remaining amount will be paid as an annuity after commercial

Even as the economic slowdown continues to impact the otherwise resilient operational road projects, infrastructure debt funds are gathering momentum given the potential of investment in the sector, say experts.

“There is a huge potential for investment in infrastructure projects and we have seen interests from both global as well as domestic investors. Though there is a slowdown currently, the market will pick up in coming months,” said IL&FS Financial Services MD & CEO Ramesh Bawa.

IL&FS has so far raised Rs 1,500 crore infrastructure debt fund and plans to increase the total corpus to $5 billion in the next two years.

“Many firms have already entered the market for providing funds to

operations begin. To neutral ize inflation, interest will be based on the applicable bank rate plus 2 per cent. The government will also lend some operations & maintenance (O&M) support and the developer could also collect a toll.

A c c o r d i n g t o t h e s e c t o r experts, government will now pass on critical project risks such as design, construction, operation and maintenance to the private sector, but retain the financial risk in contrast with current EPC or engineering, p r o c u r e m e n t & c o n s t r u c t i o n contracts.

This will also reduce long-term off balance sheet commitments, as in the case of pure annuity projects, and enhance project viability in cases that are otherwise not viable on toll,” said Abhaya Agarwal, partner, infrastructure and PPP (public-private partnerships). “For the private sector, it enhances bankability of the project. It will also channelize liquidity as 50 per cent of the project cost is recovered within the construction period.”

infrastructure projects, primarily road projects as we are seeing huge investor interest not only from domestic but also from global players like overseas pension funds as well as provident funds,” said India Ratings Associate Director (infra and project finance) Chintan Lakhani.

A s p e r t h e R B I m a n d a t e , infrastructure debt funds can invest in roads projects only after one year of commencement of operations. The delay in execution of projects or the economic slowdown is unlikely to impact the investor sentiment as they invest one year after the commencement of commercial operations of the road project,” said Icra Assistant Vice President Shubham Jain.

New model for road projects on cards

Road sector to get leg-up as infra debt funds

gain traction

Supreme Infra gets `618-cr construction orders

5 road developers to reschedule highway projects

Supreme In f rast ructure has secured three orders cumulatively worth Rs 617.7 crore for various construction works. The highest is from the National Highways Authority of India (NHAI) -- Rs 337-crore project for two-laning of Chhapra-Rewaghar-Muzaffarpur section of NH-102 in Bihar.

The company has also received Rs 237-c ro re o rde r f rom the Brihanmumbai Municipal Corporation for improvement of various roads in flexible pavements in Mumbai and its eastern suburbs. Another Rs 43.7-crore order has been secured from the City & Industrial Development Corporation (Cidco) of Maharashtra for construction of a road-over-bridge on Nerul-Uran railway line.

Railway’s research arm RDSO is likely to issue ‘speed certificate’ soon to the much-awaited Mumbai Metro. This will now pave the way for the operator Reliance Infra obtaining safety certificate from the Railways, they said.

“The process of issuing speed certificate for the Mumbai Metro is almost over. The trial report is nearly ready and we may give the clearance to the operator of Mumbai Metro One soon,” said sources at the Research, Design & Standards Organization (RDSO).

Chief minister Prithviraj Chavan

and the operator Reliance Infra have been saying that the Metro services will be thrown open to the public this month-end. Mumbai Metro One Pvt Ltd (MMOPL) is a joint venture between Reliance Infrastructure, French firm Veolia Transport and the Mumbai Metropolitan Region Development Authority (MMRDA).

After carrying out the oscillation and emergency braking distance trials under the monitoring of the RDSO, the MMRDA is now undertaking proper trial runs on the entire first phase of the 11.4-km long Versova-Andheri-Ghatkopar section of the Mumbai Metro.

Mumbai Metro may get speed certificate soon

March 31 - April 06, 2014 5coNstRUctioN

World of Concrete India wi l l return to India in November 2014 at the HITEX Exhibitions Center in Hyderabad, and is an extension of the world famous World of Concrete exhibition, owned and produced by Hanley Wood Exhibitions in Dallas, Texas, and held in Las Vegas annually.

The Indian edition is being jointly organized by Hanley Wood, USA and Inter Ads Exhibitions, India, supported by the Indian Concrete Institute (ICI). The events aim to address new developments in concrete and construction, especially in the in f ras t ruc tu ra l sphere .

Concrete Show India will be held from May 7- 9, 2015 in Mumbai at the Bombay Convention & Exhibition Centre. The event will showcase the best and newest technologies in machinery, equipment, commercial concrete products, services and systems from industry suppliers.

India’s Planning Commission has projected an investment of $1 trillion for the infrastructure sector during the 12th Five-Year Plan, with 40 per cent of the funds coming from the private sector. It is one of the major sectors that propel

World of Concrete India 2014 w i l l we l come supp l i e r s f r om the commerc ia l concrete and construction industry in India. The exhibition will serve as an excellent platform for industry suppliers to showcase innovative products, state-of the-art technologies, latest tools and equipment used in the industry.

I n d i a i s m o d e r n i z i n g i t s infrastructure at a fast pace and concrete is an essential requirement of infrastructural development; thus it is imperative to have such an event which addresses the needs of this fast expanding industry.

overall development of the Indian economy.

In the modern infrastructural methods, precast technology is the most safer and durable option for building technology than some of the traditional methods. Pioneering use of precast technology can change the face of Indian economy by speeding up the course of action across varied proposed infrastructure projects. Expansion of Metro and Mono railway routes across various tier-1 cities is one such example of implementation of this process.

World of Concrete 2014 coming to India

Concrete Show India 2015

At present, foam concrete is widely used around the world for a variety of applications

Use of foam concrete

The Holcim Awards jury North America recognizes the broad approach toward the seemingly only pragmatic and business-related question of material science in general and the concrete production in particular.

In a clear manner the project extends into a number of parameters beyond its own discipline to explain the wide impact of the issue – the social, financial and environmental d imens ion . Even t hough t he concept of magnetic formwork was questioned, the research on the application proves a high degree of transferability and the potential for an effect on aesthetics in the built environment.

Project description At present, widely used around

the world for a variety of applications, foam concrete ’s use in Nor th America is negligible, particularly in architectural applications. The lessons and experiences descending from the practical approach taken in my thes is begin to answer some common questions such as, “what’s the matter with concrete?” as well as hint at certain possible solutions. Therefore, I have made it my focus herein to extrapolate from my exploratory findings in an effort to progressively reconstitute the notions of concrete.

The approach taken has been two-fold in that my efforts explore this material directly through a collaborative process with engineers to modernize i ts long standing not ions. Meanwhi le , the la t ter approach pursues its technical implementation into an architectural

formless, and unloved. Although we can understand the failure of utopia in hindsight, we need to extend the life of the material forward by continuously transforming it such as in the case of this thesis.

Resource efficiencyThe production of cement = the

production of carbon dioxide. The major difference between foamed and normal concrete is that the use

Mix design samples of foamed concrete produced for the purposes of challenging the long standing notions regarding its potential applications within the field of architecture

edward schwarz General Manager, Holcim Foundation for Sustainable Construction

of aggregates in foamed concrete is mostly eliminated and replaced by air voids.

Since those aggregates are no longer there neither is its weight and a l l the processes re lated to i ts product ion, storage and transportation. The reduction of cement content to 40% via the use of slag and fly ash serves to further benefit t this planet.

Economic performance In trading the costs associated

with aggregates for the cost of a foam generator and foam agent, we notice large financial savings. The cement content reduction within any mix design, while maintaining the same outcome standards is another economic value. The two forming ideas suggested herein focus on the reuse of fabric as a forming material for economic, environmental and operational benefits.

Aesthetic impact The magnetic concept rel ies

on expanding the function of the rebar mesh or cage to more than just mere reinforcement. Here the reinforcement also acts as the framework for the form itself. This method would introduce precise points of contact or a point cloud for the desired shape within the framework for the fabric.

Minimal assembly components remain in the concrete since the connecting surface for the magnets, removable frame with the clamps and fabric materials are recovered for later reuse.

application by means of a design through making process which is continuously informed by the lessons of this material.

Ultimately two main forming ideas are explored whereby the main constraints include producing two-sided panels while not piercing the fabric which sustains them during their liquid state.

New processes offer elevation of the art of architecture: more control, higher quality, and improved features. To do so, we must look deeper into what lies beyond mere appearances to see how we do things, not merely what they look like.

Gravity and hierarchy no longer dictate all processes. We must forge general and project-based relations with those whom architecture has in the past avoided, not only contractors, but also product engineers and materials scientists.

Innovation and transferability

Working with academic and industry engineers I was able to achieve a mix design (750kg/m3) composed of 2 parts cement, 1 slag, 1 fl y ash and 1sand. This mix design takes the content of cement down from 100 per cent to 40 per cent and surpassing its predecessor’s compressive strength while maintaining the durability, fire/frost resistance, as well as, thermal and acoustic insulation. The engineering department at the University of Toronto has since undertaken this research with the help of industry partners.

Social equityMass consumption of concrete

possesses the power to encourage social progress on a global scale. This utopian vision was embodied in the modernist buildings formed in concrete during the 20th century. The failure of that has left many with an image of concrete as cold, hard,

March 31 - April 06, 2014 6PRoJects UPdAte

Cidco might start fresh land acquisition process for new intl airport

The state-run City & Industrial Development Corporation (Cidco), nodal agency for the Navi Mumbai international airport, will have to start afresh the land acquisition process for 271 hectares under the Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation & Resettlement Act, 2014, if the villagers opposing the acquisition fail to come on board.

This is necessary as the validity of the notices served in phases under the Land Acquisition Act, 1894, to the project affected persons (PAPs) in 2012 would be over in July.

Cidco would have to serve new notices for the acquisition of 271 hectares of private land from six of the 17 villages under the Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation & Resettlement Act, 2014.

PAPs from these vil lages are opposed to land acquisition and they have refused to accept the state government’s compensation package announced in November last year. According to the provisions of the new act, land acquisition would be

possible only after seeking approval from 70 per cent of the PAPs.

Besides, under the new act, the compensation to PAPs would be four t imes of the prevai l ing market rate. Of the total area of 2,268 hectares proposed for the aeronautical and non-aeronautical works, 1,572 hectares is already in Cidco’s possession.

Of the 2,268 hectares, the core airport area would be 1,160 hectares. Despite several rounds of negotiations with villagers, Cidco is yet to acquire 271 hectares required for the core airport area.

PAPs last week held marathon meeting with the Cidco management reiterating their opposition for land acquisition and the compensation package. Cidco on February 5 has floated request for qualification and the bidders will have to submit it till June 18 this year.

Cidco Vice Chairman & Managing Director Sanjay Bhatia said, ‘’Our efforts are on to convince the PAPs that the compensation offered by the state government is quite higher than what they will get as per the

provisions of new act. As per the government package, PAPs will get 22.5 per cent of developed land for every hectare of land acquired. They will be provided one floor space index (FSI) for 12.5 per cent of developed land and 2.5 FSI for another 10 per cent. Further, the PAPs would get three times more land to the current residential plot they occupy.’’ Bhatia reiterated that government’s compensation is at a higher side. However, he clarified that PAPs have an option to go for compensation under the new act.

Bhatia said that Cidco is currently engaged in the joint surveys of the villages and hoped that it will be in a position to acquire 271 hectare by end of July.

Mahendra Pati l , sarpanch of Pargaon, one of the villages from where the land acquisition is yet to be done, indicated that the villagers are not in a mood to relent, but continue their opposition to the Navi Mumbai international airport. He informed that retired judges PB Sawant and BG Kolse Patil have extended their support to their cause.

Fresh bids likely for cancelled road projects of 2,500 km

Projects to build 2,500 km of highways – a large part of which were awarded in the third year of the UPA-II regime — have been cancelled. The National Highways Authority of India (NHAI) awarded most these projects in 2011-12. In the subsequent years -- 2012-13 and 2013-14 -- because of the economic slowdown, firms did not respond to many bids that were floated by the NHAI.

The projects that have been c a n c e l l e d i n c l u d e J a b a l p u r-Lakhanadon (original ly bagged by Ganone Dunkerley), Vadodara-Surat including Narmada bridge (HCC), Lucknow-Sultanpur (Essar-

Atlanta), Hospet-Bellary (PNC-Betul), Karnataka-Kerala border–Kannur (Trans t roy ) , Angu l -Samba lpur (Abhijeet), Jabalpur-Katni-Rewa (Soma Tollways) and Raipur-Bilaspur (IVRCL Assets).

“Some 23 projects — most of which were awarded in 2011-12 — have been cancelled, foreclosed or terminated because of developers not paying performance guarantees or due to delays in land acquisition or environmental clearances. Two of the cancelled projects have been re-awarded,” said an NHAI official.

Fresh bids for such projects can be invited only after an inter-ministerial body — the public-private

partnership appraisal committee — revises the costs upwards taking into account the inflation since the time the project was awarded. The list of cancelled projects is likely to get longer, say the NHAI and industry sources.

This is because many road developers who have not yet started working on projects awarded two-three years ago are yet to take a clear stance on whether they will continue or surrender the projects after evaluating the premium re-schedu l ing proposa l . But the proposal, which was approved recently, does not have enough to turn these projects viable.

IL&FS Financial Services expects to close $1 billion of its targeted $5 billion infrastructure debt fund by September, a top company official has said.

IL&FS Infra Asset Management, which manages the infrastructure debt fund, has targeted an initial corpus of around $1 billion and hopes to increase the overall corpus to $5 billion under management in the medium-term.

“There is an adequate interest from both domestic as well as global investors for investing in infrastructure projects in India. We are confident of completing the raising of $1 billion in the next 6 months,” said company’s Managing Director & CEO Ramesh Bawa.

The company has so far raised Rs 750 crore and expects to raise another Rs 750 crore by March 31.

“By March 31, we would have raised nearly Rs 1,500 crore, which is from the domestic investors. However, in the next six months, we are confident of meeting our $1 billion target and we expect good response from global investors as well,” he said.

The firm has pooled in funding from at least five PSU insurance companies, inc luding General Insurance Corporation of India, Oriental Insurance, United India Insurance, New India Assurance and National Insurance, which will together pick 2 per cent stake each in the company.

IL&FS has also tied up with public sector lenders like Allahabad Bank, Bank of India, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce and UCO Bank for picking up stake in the firm.

“This move will provide confidence to overseas investors, especially foreign pension funds and insurance companies, which can participate in the fund. We are already in talks with Japanese, Australian, Chinese and Canadian firms for investment,” he said.

Bawa said the company is likely to formalize partnership with Japanese and Chinese firms post elections.

The $1 billion would be used for funding projects in power, ports, road, healthcare, education and other sectors.

IL&FS to raise $1 b for infra debt fund by Sept

Centre may seek funds to develop 2 major ports

in WB, AP

CCEA okays `224-cr support for dredging project

at VOCPT

The Shipping Ministry may seek funding support for two major ports to attract more developers and is likely to approach the Cabinet on the issue. The government has finalized Sagar (West Bengal) and Dugarajapatnam (Andhra Pradesh) as two sites for setting up of the ports.

“At the Sagar port there is also a proposal to build a rail bridge which means that the rate of return for that port will be about 8 per cent. So without VGF (viability gap funding), participation of bidders is an issue,” said a Shipping Ministry official.

“Also, at the Dugarajapatnam Port the rate of return is 18 per cent without the cost of land and therefore we are exploring the option of VGF,” said the official, adding that we will go to the Cabinet soon with the proposal.

VGF is a form of government support which is extended to those projects that are economically justified but fall short of financial viability due

to their longer gestation periods or other factors.

Last month, Shipping Minister G K Vasan had said that the initial bids for the Sagar Port will be invited in a couple of months, whereas land for the Dugarajapatnam Port has been identified.

The government in 2013-14 fiscal (till January) had awarded as many as 30 port development projects under the PPP (public private partnership) mode, entailing total investment of Rs 2,07,089 crore.

The total capacity of these projects is 217.57 million tons per annum. In the past four years, government had approved 88 new projects, entailing investment of Rs 42,953 crore and a capacity addition of 558 million tons per annum.

A port with two or more berths and facilities and equipment, capable of discharging 1,00,000 tons of cargo per month from ocean-going ships, is defined as major port.

The Cabinet Commit tee on Economic Af fa i rs (CCEA) has approved a budgetary support of Rs 224 crore for dredging purpose at V O Chidambaranar Port Tuticorin (VOCPT) in Tamil Nadu.

The CCEA has approved the grant of budgetary support of Rs 224 crore for the project “dredging in front of North Cargo Berth-II and two numbers of shallow draught berths at V O Chidambaranar Port,” said a government source.

The total cost of the project is estimated at Rs 448 crore, inclusive of dredging cost, mobilization and de-mobilization charges, service tax and contingencies. The project duration is nine months from the date of award of work. The source said the CCEA has approved only 50

per cent of the total project cost.The project is part of government

initiative to boost cargo handling capacity at major ports in India. Last year, VOCPT handled cargo capacity of 28.26 million tons, as against its total capacity 33.34 million tons. The port is projected to handle about 41 million tons during 2014-15 and 59 million tons by 2020, the source added.

The V O Chidambaranar Port Tuticorin (VOCPT) is one of the 12 major ports in the country. It is situated on the south-eastern coast in Tamil Nadu. Other major ports include -- Mumbai, Jawaharlal Nehru Port Trust, Kolkata (with Haldia), Chennai, Visakhapatanam, Cochin, Paradip, New Mangalore, Marmagao, Ennore and Kandla.

March 31 - April 06, 2014 7 iNFRAstRUctURe

Strategic projects to spur infra investment

Nations across the world represent

the full spectrum of national ambitions and strategies for

dealing with expensive infrastructure

requirements necessary to facilitate future economic growth

(Part 6 Final)

RussiaRussia is focusing on readying $50

billion in facilities and public works for the 2014 Sochi Olympics, including airport and railroad terminals, and hundreds of miles of new roads. But officials vacillate on moving ahead with desired high-speed rail projects, lacking the money.

President Vladimir Putin would like to redirect $3.3 billion in overseas investments from the country’s sovereign wealth fund into bonds that would back domestic projects building roads, bridges and ports, as much of Russia’s t ransport infrastructure dates from the Soviet era and badly requires overhauling.

TurkeyTurkey is increasingly taking

advantage of its strategic crossroads position in energy markets between European consumers and Middle Eastern/Russian gas producers, which helps boost the economy.

The country is undertaking a host of major projects to deal with road congestion, including a high-speed rail link between Istanbul and Ankara, completion of a third Istanbul airport, a new tunnel under and a third bridge over the Bosporus Strait, and numerous port and power plant initiatives.

The government is looking to attract private capital through PPP structures focusing on privatizing por ts and a i rpor ts , inc lud ing greenfield projects.

AfricaAcross Af r ica, substandard

infrastructure constricts growth by as much as 2 per cent annually. Est imates peg the cont inent ’s annual infrastructure funding gap at anywhere from $30 billion to $90 billion. The lack of safe drinking water and a huge power deficit continue to hamper economic development.

But investors may be lured by favourab le demograph ics , improvements in some nations’ political and regulatory environments,

and the promise of the continent’s rich natural resources.

Although the global financial crisis recently dampened offshore interest, China is continuing to partner opportunistically with mineral-rich countries like Nigeria, Angola and Kenya.

The Asian powerhouse is using its own contractors to build new roads, rails and port facilities, with the goal of speeding shipments of various precious metals and commodities destined for manufacturing centres back in China.

Angola, Nigeria and Ghana have established sovereign wealth funds to finance projects, while Namibia and Cameroon make infrastructure funding high priorities in long-term planning.

In 2012, South Africa launched a $430 billion (R4 trillion), 15-year national infrastructure plan with 18 specific integrated strategic projects for transport, energy, water and sanitation. Since the government has limited capacity to support these projects, many will depend on uncertain foreign financing.

The Arab Spring likely will deter foreign investment temporarily in other countries on the northern edge of Africa, like Egypt and Libya, until political stability returns.

Middle EastLed by oil-rich Saudi Arabia and the

United Arab Emirates (UAE), countries that make up the Gulf Cooperation Council (GCC) are spending rapidly on infrastructure to modernize and help diversify their heavily dependent, hydrocarbon-based economies and deal with parched desert climates.

Other GCC members include

Qatar, Oman, Bahrain and Kuwait.In this part of the world, money and

private financing requirements simply do not present the same hurdles as elsewhere. Priorities concentrate on building desalinization plants and delivery of water supplies, developing the potential for solar power to support growing populations, and connecting primary cities with modern roads and rail systems.

A $25 billion GCC pan-Gulf rail network should be completed by 2017, extending nearly 1,300 miles through six countries. Other efforts in the UAE work to drive up tourism and gain revenues from conferences and other events.

AmericasFr o m n o r t h t o s o u t h , t h e

Americas represent the full spectrum of national ambitions, struggles, strategies and approaches for dealing with challenging and expensive infrastructure requirements necessary to facilitate future economic growth.

Canada is successfully deepening its use of public/private partnerships to help finance and build a range of transportation, water-sewage treatment, and social infrastructure projects, offering a body of experience that the United States could adapt to its own financial, jurisdictional, and political setting.

Both Canada and the United States need to retool aging road networks and advance mass transit projects.

United StatesBudget constraints and a lack of

consensus regarding the federal role in key infrastructure sectors “present an [ongoing] challenge” in trying to

water treatment plans need upgrading or replacement.

With Build Canada expiring in 2014 and the country’s fiscal outlook tempering, leaders and infrastructure players are focusing on next-phase actions to maintain momentum in addressing pressing civil infrastructure needs, which total well over $167 billion (C$170 billion) by some estimates.

PPP LeadershipCanada’s h igh standing as

an exemplar of best practices for executing PPPs stems from “a certainty of process.” Governments have developed a “sophisticated understanding about how and when to use the tool and whether or not to employ user fees.”

They dr ive very compet i t ive p rocu remen t b idd ing , g i v i ng private operators confidence about “schedules for what will come to market.”

The federal government’s PPP Canada—a crown corporat ion established in 2009—also has gained a foothold, “really starting to exert authority” by providing expertise to help smal ler provinces and municipalities gain traction on PPP procurement and leverage federal dollars to best advantage, especially on smaller projects like water and wastewater facilities.

PrioritiesMajor projects are advancing from

coast to coast, including a new bridge linking Canada to the United States. Canada is footing the $3.8 billion bill for a much-needed new six-lane international bridge with expanded capacity between Ontario and Detroit,

Patrick PhillipsCEO, Urban Land Institute,Washington

Howard Roth Global Real Estate Leader, Ernst & Young

plan for public investment. Some progress came with the passing of a federal transportation reauthorization bill, but the legislation’s two-year time horizon means that thinking about the next one will need to start right away.

W i th federa l i n f ras t ruc tu re contributions holding steady and with declines generally expected, especially as the sequester takes hold, most state and local governments are moving into a “a self-help” mode—they must rely more heavily on alternative funding sources and postpone some desired projects.

“It’s hard to scrape together new infrastructure money” at a critical time when many systems are reaching the end of their lifecycles. Infrastructure spending as a percentage of GDP has shrunk to about 2.4 per cent from its peak of more than 3 per cent during the 1960s.

States and local governments account for about 75 per cent of a l l in f rastructure spending, including capital and operations and maintenance, with the federal government contributing the remaining quarter of infrastructure spending.

In 2012, Congress enacted new authoriz ing legislat ion for transportation. The new bill, Moving Ahead for Progress in the 21st Century, requires performance measures, consolidates numerous highway and mass transit programs, allocates $1 billion for projects of national and regional significance, and expands the popular Transportation Infrastructure Finance & Innovation Act (Tifia) credit-support programme. The Tifia programme has a lending capacity of $750 million in FY 2013 and $1 billion

in FY 2014, representing about $17 billion in lending capacity, but funding has been slow to go out the door.

CanadaOver the past decade, Canada has

made shoring up aging infrastructure systems a top priority. The country’s $32.5 billion (C$33 billion) federal Bui ld Canada Plan and highly effective implementation of PPPs at the provincial level have been hallmark efforts.

A recent report card from the Canadian Construction Association, however, points to s igni f icant remaining needs, noting that half the nation’s municipal roads require substantial repairs and a quarter of

GCC Railway Network, Gulf Lagos, Nigeria

the primary road-crossing for trade into the United States. Construction could start in 2016.

(Concluded)(Courtesy: Ernst & Young)

Anka

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Peace Bridge, Canada Highways, USA Winter Olympics 2014, Sochi, Russia

March 31 - April 06, 2014 8

Oberoi settles Tata Steel plot for `1,155 cr

Oberoi Realty has emerged the highest bidder for Tata Steel plot in Mumbai at Rs 1,155 crore, beating the second highest bidder by Rs 5 crore. Although some sources claimed the second-highest bidder could be Kalpataru or Lodha Group, it could not be confirmed. Among others in the race were Tata Housing and Peninsula Land.

Tata Steel stated, “The committee of independent directors appointed for the oversight and governance of the sale process by the Tata Steel board declared Oberoi Realty as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding.”

The reserve price was fixed at Rs 750 crore for the e-auction which began at 11 am and concluded at 7 pm on March 25, sources said. The auction was managed by global property consultant Knight Frank.

At a floor space index (FSI) of 4.7 million sq ft, it works out to Rs 2,455 a sq ft. However, the deal will be Rs 4,000 per sq ft, including the payouts to government, according to a realty consultant. FSI refers to permissible construction on a given plot.

Late last year, Dilipkumar Lakhi, a diamond merchant and the city’s highest individual taxpayer until a couple of years ago, bought Cadbury House, the India headquarters of Mondelez, for Rs 350 crore. The

ReAL estAte

Brand loyalty is certainly not missing in realty.

This is amply evidenced by the fact that certain

brands command instant attention

PuneVille will be PCMC’s most

outstanding statement from the perspective

of environmental sustainability

It is often assumed that property buyers are more focused on budget than brand value. This is a glaring miscomprehension of the ground realities -- in fact, few consumer classes are as attuned to the value of a brand than Indian homebuyers.

PuneVille, an ultra-exclusive luxury residential township by Pharande Spaces at Punavale, is the latest real estate investment hotspot in Pune’s burgeoning Pimpr i -Chinchwad Municipal Corporation. The project will be constructed on a generous 40-acre plot and will offer every luxury and convenience of modern life to its residents. The project has been conceived to stand head and shoulders above the rest.

This unique luxury project has been conceived by Aedas, the global award-winning architects who have master-minded Venetian style hotels in Las Vegas and Macau, as well as the Financial Centre in Shanghai and Marina Bay Sands in Singapore.

Aedas ranks second among the world’s top architectural firms and

of change will always be the media. Unfortunately, the media has made it its business to portray the entire real estate domain in a negative and mercenary light.

Force to reckon withThe rea l es ta te indust ry i s

becoming a force that even global players are beginning to take very seriously. This change will become more pronounced as more and more serious players come to the fore-front of the sector.

We are already witnessing a process of consolidation wherein smaller players are merging with or selling their stakes to bigger names, since these banners of repute are able to sustain their businesses as a result of their larger market share, higher credibility quotients and their superior funding options.

Not surprisingly, many people continue choosing real estate as a career because the business is based on the strongest possible fundamentals. With the rapidly improving transparency norms and considerable success of reputed developers despite the challenging economic environment, it makes a lot of sense for qualified people to choose top-rate real estate companies as their career partners and be part of the great real estate movement.

Moreover, developers have been responding to this trend by making best practices in their offerings as well as business operations as an integral part of their manifesto.

In most of our cities, reputed d e v e l o p e r s h a v e m a i n t a i n e d consistency in these aspects and are even raising the bar on best practices in construction design, quality and business transparency. This focus is a natural consequence of the need to remain relevant in a highly competitive market.

Even in smal ler c i t ies such as Pune, quality developers are

will bring its full expertise to bear on PuneVille. It is a leading international design firm which specializes in blending architecture, interior design, landscaping and overall project concepts into cohesive and stunningly compelling masterpieces.

PuneVille is not only a marvel of modern architectural and lifestyle -- it is actually based on the firm’s deep study of the location’s geographic, climatic and environmental profile. This has given rise to a luxury living community which is not only the ultimate statement in modern living, but also completely in harmony with its surroundings in every respect.

Luxury resort themeThe first phase consists of 16

towers, each with 23 storeys of exclusive and uniquely crafted living spaces. The entire project has been designed with a luxury resort theme. Every unit is uniquely crafted, provided with the highest-quality imported fittings, fixtures and marble flooring as well the top Indian brands.

PuneVil le wil l incorporate an international school, a state-of-the-

known for the higher grade of their deliverables on the market. This explains why certain brands command a greater degree of trust among consumers than others.

Necessary needThe fact is that real estate as

a business, from construction to marketing of the end product, is one of the strongest contributors to the country’s GDP. Real estate fulfils a very necessary need, as is evidenced by the unrelenting demand for homes all across the country.

art hospital and well as high-end commercial off ice spaces. This township is going to be among the best in the country and incorporate every conceivable luxury feature, including a Olympic-size lagoon shape swimming pool, club house, restaurant, landscape garden, tennis/multi-use court, lush lawns, joggers track, children’s’ play area, serene and spacious water bodies, and a walkway at a height of 22 feet, connecting all the residential towers to the central common amenities.

Perfect locationThe town of Punavale is the

perfect location for such a unique luxury offering. It is in the very heart of the Pimpri-Chinchwad Municipal

Brand loyalty is certainly not missing in realty. This is amply evidenced by the fact that certain brands command instant attention while others do not even register on buyers’ radars unless questionable marketing ploys such as marked-down rates in exchange for inferior quality and location come into play.

Home buyers are very aware of the fact that some developers can be expected to deliver on their promises, while others represent a potentially costly gamble. This is also why the more reputed developers have no problems with obtaining domestic as well as international institutional financing for their projects.

Nevertheless, the image that has been created about the real estate sector in general is a persistent one. When it comes to changing public perception, the primary instrument

The value of brand

Pune’s hotspot township Corporation, and just 1 km from Wakad. Punavale provides easy access to Aundh, Baner, the University Circle and Hinjewadi, home to Pune’s largest and most vibrant IT park, as well as to Lonavala and Mumbai via the expressway.

In fact, PuneVi l le is a mere five minutes’ drive to the Pune-Mumbai Expressway via a specially constructed 700 meters access road. Likewise, Hinjewadi will be brought even closer via the proposed road which adjoins the project. Immediate access to the proposed 6-lane road to Baner will bring the Queen of the Suburbs, along with all its shopping complexes, hospitals and leisure outlets within easy reach.

On a macro level, the PCMC region is poised for a quantum upgrade in its economic profile, with in excess of 6,000 new white collar jobs to be created over the next few years, 36 new educational institutes coming up and major hospitality

giants such as Taj Gateway, JW Marriot, Smart Inn, Le Royale, Lemon Tree, St. Laurn and Sayaji delivering the final vitalizing boost.

Environment appealPuneVille will also be PCMC’s

most outstanding statement from the perspective of environmental sustainabi l i ty. The project has already been awarded a 4-star pre-certification from Griha -- one of the leading sustainability rating agencies in the country. With the rapidly increasing interest for ‘green living’ among Pune’s most discerning home buyers, we could do no less than ensure that PuneVille takes a leadership position on this front.

one-acre property, with 90,000 sq ft of saleable area, is on Peddar Road in south Mumbai.

Recently, the National Centre for Performing Arts, the cultural organization set up by JRD Tata and Jamshed Bhabha, had put the iconic Bhabha Bungalow in the city on the block for a reserve price of Rs 257 crore.

The US-based banking major Citibank plans to sell Citi Centre, its erstwhile headquarters in the tony Bandra-Kurla Complex (BKC). The eight-storey building, with about 90,000 sq ft of space, is expected to fetch about Rs 300 crore, as BKC commanded a price of about Rs 30,000 per sq ft, according to consultants.

Arvind Jain Managing Director, Pride Group

Anil Pharande Pharande Spaces, Pune

March 31 - April 06, 2014 9

Terex Washing Systems (TWS) hosted a USA premiere of the Terex Aggresand wash plant in North Carolina, USA, following the huge success with the Ireland launch last year. The event took place at the Carolina Sunrock facility in Kittrell, North Carolina, where TWS worked with Mid-Atlantic distributor, Powerscreen Mid-Atlantic, to stage the 3-day event.

Sean Loughran, Di rector of TWS, commented, “This is the f irst machine of i ts kind in this market and the interest has been phenomenal. The event has proved to be a real success and we are already witnessing increased activity in this marketplace.”

The Aggresand concept, the newest modular aggregate and sand washing plant, was introduced to the world of aggregate washing late last year. The Aggresand plant showcased at Kittrell, NC, featured a 200tph twin sand plant compared to the first Aggresand plant launched in Ireland, which had 120tph twin sand plants. TWS can offer two sand plant options, 120tph or 200tph, dependent on the customer’s application and the sand to stone ratio. The modular wash plant brings together aggregate and sand washing on one modular chassis, producing three aggregates and two types of sand on one machine.

Sunrock Quarries willingness to try innovative products and processes, coupled wi th TWS dis t r ibutor, Powerscreen Mid-Atlantic, afforded TWS the opportunity to host the event. The local geology of Sunrock Kittrell Quarry is granite, which made the demonstration more significant, since high wear issues are more prevalent in this situation. Poly screens were opted for in place of the typical woven wire screen mesh and the Aggresand™ wash plant was more than capable of dealing with this raw material.

More than 45 TWS distributors and more than 150 customers from

throughout America attended this exclusive event, where they saw for the first time ever a live demonstration of the Aggresand wash plant. Elaine Donaghy, Marke t ing Manager of TWS, commented, “The USA premiere of the Aggresand wash plant proved to be another successful showcase. Reaction to the new plant was exceptional and we received immediate orders as a result. The Aggresand wash plant is proving to set TWS apart from other providers in the market and is revolutionizing the wash plant market by introducing innovative solutions and continuing to serve our customers’ needs and demands around the world.”

This system sets itself apart from the competition by combining aggregate washing and screening with sand processing on a modular chassis. Garry Stewart, Applications Engineer with TWS, commented, “The market is really embracing the Aggesand concept with extensive orders following the show. Feedback f rom customers suggests that acquiring planning for these modular set-ups is easier compared to large static installations. The rapid set up time, high levels of serviceability and the advanced control system are also proving major hits with our customers.”

Mark Keenan, Sales Manager, P o w e r s c r e e n M i d - A t l a n t i c , commented, “We at Powerscreen Mid- Atlantic Inc, were happy to be able to showcase the new Terex Aggresand™ wash plant here in North Carolina and we appreciate all the assistance our good customer Carolina Sunrock provided to help real ize the event. I bel ieve the Aggresand™ plant will be a very popular machine in the U.S. market. The ease of setup and installation, due to its modular design, enables us to provide the customer with a complete turnkey solution, which can be moved from one site to another in a short space of time.

eQUiPmeNt

Silvennoinen to head Metso’s Services business line in mining, construction

as of March 26, 2014. Juha has made a long career in ABB where he has held several executive positions in various businesses. In his last position at ABB he was responsible for motors and generators business unit, which employs some 16,000 people globally.

In addition to his role as President, Juha will also be responsible for development of Metso’s overall services business and strengthening synergies and realizing business opportunities within Metso’s services businesses.

“Metso is the leading services provider for the global mining and

construction industries. Services business counts for more than 50 per cent of our net sales and we want to further develop and grow the business through stronger co-operation across our businesses. Juha will have a key role in this development”, says Matti Kähkönen, President & CEO, Metso.

“ W e u t i l i z e o u r d e e p technological and process know-how to deliver intelligent services solutions designed to make a real and sustainable difference to our customers’ businesses over the life cycle of their equipment and processes”, he adds.

TWS introduces Aggresand System for US market

Juha Si lvennoinen has been appointed President , Serv ices business line in Mining & Construction

Metso presents redesigned Nordberg CVB screen

Metso presented a renewed Nordberg CVB inclined circular motion screen, the latest development in cost-efficient screening technology. The name of the acclaimed screening range remains the same, but the design has been changed to include more features and generate even more benefits to our customers who are always aiming for maximum plant availability, lower operational cost, and more flexibility to better follow market trends.

Safer, faster maintenance: Safe working environment is a priority to Metso. Therefore, an industry-leading safety level is a standard feature in Metso equipment. That’s why the new Nordberg CVB screen offers the most comfortable space between the decks in the category of inclined circular motion screens. A large space lowers the risk for injuries and makes the replacement of screening panels quicker.

To increase safety even further, the Nordberg CVB screen is also equipped with coil spring covers to minimize the risk of pinching accidents, and rubber stabilizers, high-safety belt guards and

one centralized, conveniently located greasing manifold.

In addition, the wear protection liners are bolted on, which makes them safe, easy and fast to replace unlike the glued rubber liners found in similar screens on the market.

Less downtime: The vibrator, structural design and wear protection of a screen are the three areas most likely to cause serious trouble.

MV vibrators: The Nordberg CVB screen is fitted with the renowned Metso MV Modular Vibrator, which features the most advanced, dust-proof cartridge design ever seen in a vibrator. Because of their dual bearings, the MV vibrators are very durable.

Structural design: The weld-free side plates of Nordberg CVB ensure optimal durability and a high stress tolerance. The screen also includes weld-free cross members that drastically increase its lifetime under fatigue and allow for more tonnage.

Ma in tenance - f r i end l y wea r protection: The feedbox and discharge spouts of the screen are protected with Metso’s Trellex(TM) modular wear and impact resistance rubber linings. Easy maintenance and quick replacement of screening media, wear liners and spare parts let you maximize uptime and improve the profitability of your production.

Volvo Safety Award creates safer quarries in Malaysia

Volvo Construction Equipment (Volvo CE) has, in cooperation with the Malaysia Quarries Association (MQA), initiated the industry’s first-ever safety award in order to improve safety awareness among employees in Malaysian quarries.

Mining and quarrying are potentially dangerous working environments and safety should always be an integrated part of the daily work schedule. Unfortunately this is not always the case. Many quarry workers are injured – or even killed – in work-related accidents every year. Volvo CE – global manufacturer of construction equipment for the quarrying industry around the world – is dedicated to

improving the safety of its users by promoting best practices.

This year, Volvo CE in Malaysia has launched the country’s first-ever safety awards program – the Volvo Safety Award – to recognize companies in the Malaysian quarrying industry that have made a strong contribution towards improving the safety of their employees and work practices.

“Each accident is a tragedy and it is extremely frustrating to know that these accidents could be prevented with a more structured workplace and a different mind-set,” says Brandon Ross, Business Director at Volvo CE in Malaysia. Ross wanted to utilize Volvo CE´s strong safety reputation

(L-R): Dato’ Sri, QC, President of the Malaysian Quarry Association; Dr James Dawos Mamit, Dy Minister of Natural Resources & Environment; Brandon Ross, Business Director Volvo CE in Malaysia; and Srinivasan Kathiresan, Quarry Manager at Lafarge Aggregates and winner of the inaugural Volvo Safety Award

in order to increase safety awareness within Malaysia.

The inaugural Volvo Safety Award ceremony took place during the MQA’s annual dinner in Kuala Lumpur with more than 400 guests, including customers, operators, quarry owners and other industry representatives as well as the Malaysian Deputy Minister of Natural Resources and Environment, Dr James Dawos Mamit.

Winner of the first prize at the 2014 Volvo Safety Awards was Lafarge Aggregates, a company that has demonstrated how a remote greasing functionality on its crushers, mixers and conveyers has helped to eliminate dangerous elements in daily operations.

We feel like Terex Washing Systems has really set themselves apart from the competition with the modular concept and quality design. We look forward to installing their products with many of our customers.”

March 31 - April 06, 2014 10ReAL estAte

The concept of luxury has definitely changed dramatically over the years, and this holds true for luxury homes

as well

Changing panorama of luxury homes

Tata Housing to invest `700 cr in Chennai housing

Mumbai property sale registrations up 0.06 pc in Feb

For a country which was in the past largely referred to in context with high poverty levels, India has come a long way by emerging as a resilient market for luxury housing. Of course, this is not a uniform phenomenon, and the demand for luxury housing in India varies according to cities. Even the definition of ‘luxury’ changes as we look into various parts of the country.

For example, a two-bedroom apartment in a central location in Mumbai, Pune, Bengaluru or Gurgaon is often sold and bought as a luxury unit simply because of the profile of the location. As such, inherently valuable locations such as Cuffe Parade, Worli and Lower Parel in Mumbai and Sahakar Nagar, Bund Garden Road, Boat Club Road, Kalyani Nagar and Koregaon Park in Pune are seen as luxury locations. This has some merit, but is by no means all that there is to luxury housing in India.

Realty major Tata Housing will invest over Rs 700 crore to develop a housing project in Chennai. The company would develop 1,600 flats, spread over 15 acres. The company said in a statement that its subsidiary Tata Value Homes would develop the affordable housing project under the brand ‘New Haven’.

“Tata Value Homes launches New Haven at Mambakkam with an investment of over 700 crore,” added the company. Tata Housing had formed Tata Value Homes in 2010 to build value and affordable housing. “With the ever-growing appetite for affordable residences with premium facilities in India, the launch of New Haven in Chennai is in line with our expansion plans of this pan-Indian brand across top 8 cities in India,” said Tata Housing Managing Director & CEO Brotin Banerjee.

This is the fourth project under this brand. The other three are at Boisar, Bengaluru and Ahmedabad. Tata

Property sales registrations in Mumbai remained at 4,858, up a mere 0.06 per cent year-on-year in February 2014. On a month-on-month basis, the registrations have suffered a decline of about 11.4 per cent in February, but numbers are still holding strong compared to 2012 and 2011, suggesting buyer sentiment towards Mumbai property market is stabilizing. There seems to be a slight upswing in property buying sentiment in Mumbai in the last two months, as the registration numbers have shown improvement.

January numbers a t 5 ,483 were much higher compared to

While there is still a focus on s p a c i o u s l i v i n g , t h e r e i s a n increased accent on ‘smart home’ accoutrements, high-end common amenities and technologically evolved security. These were certainly not factors which went into the definition of luxury living a couple of decades ago.

Value Homes has introduced two pan-India brands -- Shubh Griha (value homes) and New Haven (affordable homes). Tata Housing is a subsidiary of Tata Sons Ltd which holds 99.86 per cent stake in the realty firm.

The company is developing 70 million sq ft of area and an additional 19 million sq ft is in the pipeline. It is offering products ranging from Rs 5

registrations seen in January of 2012 and 2011. For the full calendar year 2013, property sales registrations were up 3.5 per cent to 64,087 on a year-on-year basis.

Developers have been saying that the property registration numbers have been comforting, as there is no major fall in the figures. In December 2013, 6,916 property sales registrat ions were made, highest compared with the same period for the last three years.

Tradi t ional ly, the December registration numbers are higher, as customers rush to register their properties before the ready reckoner

Opulent livingA more precise definition of luxury

housing in India is housing which offers opulent living spaces and ultra-modern luxurious amenities. Such projects may or may not be centrally located. In fact, such luxury projects can offer a more evolved luxury experience, since developers do not have to invest in cost-intensive land and can concentrate on supplying luxurious experience to buyers.

The most responsive markets for luxury housing in India are Mumbai, Pune, Bengaluru, Delhi, Gurgaon and to a certain extent Chennai.

This is because these cities see a lot of wealth creation, thanks to their economic fundamentals.

However, it is not only the wealth creation in these cities which is driving the luxury homes market in India. The evolving mind sets of the buyers emanating from these cities are also changing the shape and specifications that define the term ‘luxury homes’.

The concept of luxury has definitely changed dramatically over the years, and this holds true for luxury homes as well. Previously, the demand for large, well-appointed homes came

with various luxurious amenities. Such homes existed in these families for decades, and rarely reflected the changing times.

Rich, young clienteleToday, the ranks of HNIs in India

do not include only such families. The country’s IT and manufacturing boom has brought wealth generated by high-paid jobs and new business enterprises into the picture, as well. The average age of luxury home buyers is now between 35-42, and the requirements that such individuals have in terms of luxury housing have also changed.

Kishor Pate CMD, Amit Enterprises Housing Ltd

Realty developer Godrej Properties has entered into a joint venture to develop a residential project at Keshavnagar in Pune. The project will be spread over 43 acres and offer around 2.8 million sq ft of saleable area, said the company.

As part of the agreement, Godrej Properties will receive 35 per cent of the profits from the project. The real estate development arm of the Godrej Group will be developing

the project as a premium residential development.

“This (project) fits well with our strategy of entering partnerships for residential developments in the best locations within India’s largest real estate markets. Over the years, Godrej Properties has built a number of landmark properties in Pune and this project is our eighth in Pune,” said Pirojsha Godrej, MD & CEO, Godrej Properties.

Godrej Properties’ JV for Pune housing project

lakh to Rs 14 crore. Tata Housing has presence in

Mumbai, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar. The company has ventured into foreign markets such as Maldives and is actively exploring other markets such as Sri Lanka and other South Asian countries.

(RR) rates are revised on January 1 every year, and also pending registrations are done by customers. However, in 2013, some element of aggressive pricing by realty developers, and more new launches also aided in higher sales.

Property prices in Mumbai have historically been high, however, the capital prices in the Mumbai region have stabilized in the past year, the latest findings of property portal 99acres.com show. Key localities in Mumbai like Worli, Breach Candy, and Mahim (west) have seen an increase of only 2 per cent during this period.

Today’s buyers of luxury homes are highly aspirational and, more importantly, tech-savvy. This means that they are able to put to use their knowledge of IT technology to increase their families’ lifestyle quotients.

primarily from ‘old money’ -- that is, families which have had amassed wealth over several generations, either through business operations, investments or inheritances.

The configuration of choice for such families was bungalows built on family-owned land and embellished

March 31 - April 06, 2014 11iNteRNAtioNAL

And we need to realize that these foreigners are only interested in making money in India. They are not here for the love of the land. In fact, most of the foreigners I have met find India to be a very difficult country to work in.

There is a lot of talk of cartelisation in the country. Cartel isat ion is happening in most of the large projects – even in the electrical segment. This means that the country will be paying more and more. So encourage local people; encourage local industry. Many Indians are ruling the roost in many countries, but they cannot do so in their own country. I guess, it has to do with our mentality. If a foreigner markets a product in India, the product is well accepted, but if an Indian markets a product, the product is not accepted well. We need to change this mindset.

What are the new technological trends in the wire manufacturing industry? Tell us about R&D at your end.

Ravin Group now operates into five clear verticals: manufacturing of energy cables up to 220 KV; EHV installations, projects and services; solar energy EPC projects, with emphasis on tracker systems; specialised power products l ike moisture removal systems for transformers; and retail energy products.

There is constant in-house R&D in all these five verticals and many a times we have seen that research in

one vertical adds to the quality quotient of other products. For example, R&D in EHV installations has enhanced our quality in manufacturing of energy cables, and R&D in moisture removal systems for transformers has helped us in all the verticals.

Our clear ideology is that we will remain affixed into the areas that we have developed expertise in, but at the same time diversify into allied areas. We have a full-fledged R&D team at work in our group.

Your views on the challenges confronting wires & cables sector. Any practical approach for future developments?

The wire and cables sector is facing major challenges which start with a lack of demand in the industry, shortage of finances available - not just to the industry but to entire sector as a whole, multinationals coming in with 100 per cent FDI, threat of imports from various countries around the world and also from the lack of R&D that is carried out in the industry.

All these factors combined paint a dismal picture for the industry in the coming year or two at least, unless demand strategies are not set right by the government. Energy costs in India, especially in Maharashtra, remain the highest in the world and yet the utilities are not faring well.

This is a major threat to the survival of at least the local players in the industry, and the industry would have to see off a bad phase in the coming couple of years to take advantage of a sustained demand

which would be inevitable after a couple of years.

Sustainability is going to be one of the keys and hence it would be practical to conserve finances and work towards newer and more efficient products which could be the driver for tomorrow.

Your outlook for the industry in the year ahead.

I see a slightly turbulent period for the industry in the coming year, and the key would remain a stable and growth oriented government at the Centre, who would not be scared to spur consumption and growth across infrastructure segments.

What will be your business strategies going further?

Our strategy as a group would be to focus on 5 or 6 verticals that we have built up and to look for continuous research and development in all areas, because we believe that technology along with availability, accessibility and affordability would be pillars for growth for any industry in India.

Any message to the industry?I would urge the industry to engage

in new product development and look into enhancing their quality and service quotient rather than indulging in unhealthy price wars.

We Indians can develop lots of local products suitable for local market conditions, and we are replete with scientific manpower in our country to do so. Let us all jointly work for a better and productive tomorrow.

in person(contd. from pg 3)

Large growth in infra investment from unlisted funds likely in 2014

Unl is ted inf rastructure fund managers are sitting on a record $98 billion in dry powder; 71 per cent expect to deploy more capital in 2014 than last year. Preqin, one of the leading source of information for the alternative assets industry, in its recent survey of unlisted infrastructure fund managers worldwide reveals that the vast majority (71 per cent) expect to deploy more capital in 2014 than in 2013.

With fund managers sitting on a record $98 billion in dry powder and 44 per cent of fund managers planning to invest significantly more capital in the year ahead compared to 2013, there is likely to be a substantial increase in the amount of capital invested in infrastructure assets in 2014.

However, infrastructure fund managers are concerned about sou rc ing su i t ab le asse ts fo r

investment; 77 per cent believe there is more competition for assets than a year ago and 29 per cent believe transaction sizes in 2014 will likely increase as a result of market conditions driving up prices.

The availability of debt financing has been a key issue in recent years; however, 47 per cent of infrastructure fund managers believe the availability of debt financing is better now than a year ago, while only 3 per cent stated it was worse.

Furthermore, there are signs that traditional lenders are now returning to the market; 77 per cent of fund managers expect banks to be the primary source of debt financing for the infrastructure asset class in 2014.

Geographically, 54 per cent of Europe-based fund managers feel debt availability is better than 12

months ago, compared to 13 per cent of US-based fund managers, with European lenders having been particularly cautious in the past few years.

According to the report, 91 per cent of fund managers believe transaction sizes will be the same or larger in 2014 than in 2013, likely as a result of increased competition for assets driving up prices. The average deal size in both 2012 and 2013 was $438 million, which is the highest figure in the period since 2007.

Infrastructure fund managers view energy as the most attractive sector, followed by transport and renewable energy.

In 2013, 689 infrastructure deals were completed, with an estimated aggregate value of $302 billion, up from 684 deals in 2012 valued at an estimated $300 billion. In 2013, 44%

of infrastructure deals were made in European assets, while North America-based assets accounted for 32 per cent of transactions.

Andrew Moylan, Head of Real Assets Products, Preqin commented, “With record levels of unl isted infrastructure dry powder and fund managers planning to put more capital to work in 2014 compared to 2013, the outlook for the year ahead is particularly positive.

“However, with many institutional investors targeting direct investments and improving debt market conditions, it is not surprising that the majority fund managers are now finding competition for assets is growing.

“Most firms remain confident there are attractive opportunities in 2014, with energy and transport sectors viewed most positively, but there will also be concerns that this

increased demand may result in assets becoming mispriced. While new sources of debt are emerging, with a growing number of debt funds being formed and some institutional investors providing financing for infrastructure, banks are increasingly prepared to lend on infrastructure assets, and the vast majority of fund managers expect traditional lenders to remain the main source of debt in the coming year.”

Global energy infra needs investments of $36 trillion by 2050

Global investments into the energy infrastructure space estimated at $36 trillion representing 0.6 per cent of the cumulative GDP over the next few decades will provide a huge opportunity for the private sector to scale up new technologies and meet the emerging challenge of climate change.

The private sector will need to look at the opportunities, Dr Ernest Moniz, Secretary, US Department of Energy said, “They need to focus on the opportunities rather than the limits as they explore initiatives in clean energy transformation”.

He was speaking at a conference on ‘Financing Renewable and Energy Efficient Technologies’ organized by the Confederation of Indian Industry in partnership with Energy Cooperation Programme (ECP) coinciding with the Indo-US Energy Dialogue in New Delhi on March 25.

Emphasising on the critical role of financial support, Moniz said, “Clean energy financing is being elevated through multilateral agencies in the

US till private capital moves off the sidelines.” This support is critical for Clean Energy to gain momentum.

Echoing a similar train of thought, MrMontek Singh Ahluwalia, Deputy Chairman, the Planning Commission, said, “Subsidies need to be explicit and it is important to distinguish between subsidy and finance. RE projects need to have a revenue model that can be financed and then we can bend over backwards to ease the regulatory restriction to address the externalities in renewable energy financing.”

Highlighting two key trends in the course of his address, Dr Moniz said, “The notion that the Clean Technology Revolution remains a distant goal is changing as cost reductions in clean technologies (photovoltaic, LED and wind) continue to advance at a rapid pace. A shift in the public attitude towards the need for prudent action to pursue the Clean Energy Agenda is also being witnessed. This is important to address the risks of climate change.”

Andrew Moylan, Head of Real Assets Products, Preqin

Speaking on the progress of the role of renewable energy, Banmali Agrawala, member, CII National Council and CEO& President, GE South Asia, said, “India as a country has made substantial progress in the

area of renewable energy and energy efficiency. Today installed renewable energy capacity at 30 GW accounts for 13 per cent of the fuel mix and is about 5-6 per cent in energy terms. To further strengthen the entire base of renewable energy in the country, there is a need to move from capacity addition to energy and explore solutions in the area of grid integration, energy storage and energy efficiency on the demand side. Funds also need to be provided to the manufacturing sector to enable them to innovate new technologies.”

Stressing the importance of financing, he said, “Financing is the core of renewable energy and energy efficiency. While the market has responded well to the commercial interventions that have been put in place, financial institutions in the country need to respond more aggressively and should be willing to go that extra step.”

Lend Lease & Bouygues land $2.65 b Sydney tunnel

A joint venture of Lend Lease & Bouygues has been named preferred bidder for AU$2.65 billion (£1.43 billion) tunneled motorway scheme in Sydney, Australia. The contract involves the design and construction of the North Connex motorway.

The award of the contract to the Lend Lease & Bouygues joint venture is subject to planning approval and finalization of contract terms. The work

involves construction of a 9 km twin tunnel tolled link from the southern end of the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at its existing Pennant Hills Road interchange.

The scheme is being developed by Transurban, which approached the New South Wales government in 2012 with an unsolicited proposal to design, build, operate and finance the link.

March 31 - April 06, 2014 12

Registered with the Registrar of Newspapers for India under No. MAHENG/2012/41844 Posted at Mumbai Patrika Channel Sorting Office, Mumbai - 400001, on Monday Published on Monday, March 31, 2014

Regd. No. MH/MR/South-355/2012-14

eVeNts

Printed & published by Bina Verma on behalf of Asian Industry & Information Services Pvt. Ltd., and printed at Amruta Print Arts, 205, Tantia Industrial Estate, J. R. Boricha Marg, Opp. Kastruba Hospital, Mahalaxmi, Mumbai 400 011 and published at 1st Floor, Feltham House, 10, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001. Tel.: 022-2266 0623. Editor: Bina Verma Annual Subscription : Rs. 5,000/-

Italcementi awards women in architecture

presented, with a special focus on the standards of technological innovation, environmental quality, cost-effective use of resources, social responsibility, functional and aesthetic research.

“New design concepts, different approaches to mater ia ls and construction processes, conservation of the natural environment, care for local social and cultural values. Narrated through the professional experience of female designers from all over the world, who have brought techniques, aesthetic sensitivities and different colors from all over the world,” said Italcementi CEO Carlo Pesenti. “With this award, we want to highlight the female vision of architecture as it changes and molds itself to today’s new social and human models.”

The Prize winner was announced in Bergamo at i.lab, the Italcementi research and innovation centre d e s i g n e d b y R i c h a r d M e i e r, a building which itself integrates leading construction solutions and

eVeNtsMay 22-24, 2014

Metal Buildings & Steel Structures ExpoBombay Convention Centre, MumbaiMBSS Expo is an initiative designed to promote the use of steel and allied metals in construction to showcase the latest products and innovations in the industry. The event also proves to be an ideal platform for exploring new business opportunities and for dissemination of knowledge in the quest to deliver world class technology/services.

Contact: INIS Enterprises Pvt Ltd, 116 Atlanta Estate, VItth Bhatti, Goregaon East, Mumbai

April 19, 201418th One-day Workshop on Jirnoddhara of RCC BuildingsThe Institution of Engineers (India), Mahalaxmi, MumbaiThe workshop contains structural audit, upgrading (housekeeping, regular maintenance, repairs, rehabilitation, fixing leakage, waterproofing of RCC buildings and a new concept to construct durable RCC structures without leakage

Contact: Jayakumar Jivraj Shah Tel: 28483541 Mobile: 9819242649

May15-17, 2014Ecobuild India To be decided soonIt is the largest exhibition of the sector that concentrates on the future of sustainable building design, construction and built environment. It plays an important role in the development and advancement of the sector and helps the exhibitors to showcase their products and services associated with the sector.

Contact: UBM India Pvt Ltd. Times Square, B- Wing, Unit 1 & 2,5th Flr, Marol, Andheri Kurla Road, Andheri East. Mumbai

May 16-18, 2014Roof India 2014 Chennai Trade Centre, Chennai The exhibitors will showcase roofing systems, architectural cladding, facade engineering, roof waterproofing, pre-engineered buildings, space frames and more.

Contact: International Trade & Exhibitions India Pvt Ltd 1106-1107, Kailash Building, Kasturba Gandhi Marg, New Delhi

July 11-13, 2014India International Build Expo ChennaiChennai Trade Centre, Chennai,This event helps the professionals and experts of the industry to come together under the same roof and experience an ideal platform to network and interact with each other. Contact: Prompt Trade fairs (India) Pvt Ltd, 621, 3rd Floor, SIRE Mansion Thousand Lights, Chennai

September 11-13, 2014The Big 5 Construct IndiaBombay Convention Centre, MumbaiIt will provide the ideal platform for influential architects, contractors, consultants and engineers to share ideas about innovative construction tools and services. Contact: DMG: Events. PO Box No 33817 Dubai, UAE

December 4-6, 2014Ceramics AsiaGujarat University Exhibition Hall, Ahmedabad This event will be organized to enhance that potential by bringing industry professionals from different corners of the world under one roof. Ceramics Asia is going to be organized for three days at the Gujarat University Exhibition Center in Ahmedabad Contact: Unifair Exhibition Service Co. Ltd, Room 802-804, Daxin Building, 538 Dezheng North Road Guangzhou, China

December 15-18, 2014bC India ShowIndia Expo Centre and Mart, Greater Noida The International Trade Fair for Construction Machinery, Building Material Machines, Mining Machines and Construction Vehicles-provides the international construction industry with a professional platform for the construction industry. Contact: B C Expo India Pvt Ltd, Lalani Aura, 5th Floor, 34th Road, Khar (West), Mumbai

technologies. Twenty-one designers were short-listed for the prize, from 15 countries: Austria, Chile, Egypt, France, Germany, Japan, India, Ireland, Italy, Morocco, Portugal, Spain, Switzerland, Thailand, USA.

The Prize is a two-week research workshop at i.lab, the Italcementi Group R&D Center in Bergamo, and an amount of 50,000, part of which may be devolved to social projects, at the discretion of the winner.

Ines Lobo, a graduate of the Technical University of Lisbon (FAULT, 1989) established her own architecture office in 2002.

Cecilia Puga is the first South American designer nominated for the arcVision Prize. Puga is more interested in structural solutions that give buildings greater freedom and flexibility, than in surface aesthetics.

The aim of the arcVision Prize is to enhance the figure of the female designer in contemporary world architecture, with a special focus on the qualities a modern architect requires to develop originality.

Zuari Cement is part of the worldwide Italcementi Group, the fifth largest cement producer in the world.

Editor : Bina VermaEditorial Team: Dilip Phansalkar, Paresh Parmar, Remona Divekar Designer: Rajen Mistry

Business Team: Milind Joglekar (9833357005), Shantanu Baraskar (9820904795), Seema Kohli (9820904931)Email: contact@konstructionreview.com, editor@mmronline.com

No part of the contents of Construction Industry Review, in abridged or unabridged form, can be reproduced without the written permission of the Editor. CIR does not accept any

responsibility for statements and opinions expressed by the authors.

Portuguese Architect Ines Lobo wins the arcVision Prize – Women & Architecture 2014

Italcementi awarded women in architecture on the company’s 150th anniversary, and also paid tribute to Lina Bo Bardi on the centenary of her birth at a ceremony in Bergamo, Italy.

Portuguese architect Ines Lobo is the winner of the 2014 arcVision Prize – Women and Architecture, an international architecture award for female designers instituted by the Italcementi Group and now in its second year.

The members of the jury included Suhasini Maniratnam, an Indian film producer and writer; Samia Nkrumah from Ghana, president of the Kwame Nkrumah Pan-African Center; Martha Thorne from USA, director of the Pritzker Prize; Shaikha Al Maskari

from Abu Dhabi, a businesswoman; Odile Decq, owner of the Odile Decq firm in Paris; Vera Baboun, Mayor of Bethlehem; Louisa Hutton, English founding partner of the Sauerbruch Hutton architectural practice; Kazuyo Sejima, owner with Ryue Nishizawa of the SANAA architectural practice in Tokyo; Benedetta Tagliabue, founding partner with Enric Miralles of the EMBT architectural firm in Barcelona, and Elena Zambon, chairman of the Italian pharmaceuticals company Zambon S.p.A.

T h e a r c V i s i o n P r i z e – a n initiative inspired by the Italcementi entrepreneurial vision – recognizes the innovation and sustainability of the projects and constructions

Elena Zambon, Benedetta Tagliabue, Odile Decq, Louisa Hutton, Samia Nkrumah, Vera Baboun, Martha Thorne, Suhasini Maniratnam, Shaikha Al Maskari, Kazuyo Sejima.

Anna Heringer’s vision focuses on the social and cultural responsibility of architecture. Her most significant projects in this sense are the Training Center in Rudrapur, Bangladesh.