Adani Expands Engineering Portfolio

25 Nov 2024 CW Team

The Adani family, as part of its $100 billion investment vision for 2030, is intensifying efforts to build an in-house construction and engineering ecosystem. Recent acquisitions of ITD Cementation and PSP Projects are key steps in meeting the demands of its large-scale infrastructure projects.

Major Initiatives: Strategic Acquisitions:

ITD Cementation: A 46.64% stake acquired for ?3,204 crore by Dubai-based Renew Exim DMCC. PSP Projects: Expected to contribute to Adani鈥檚 ambitious ventures, particularly in infrastructure, defence, and airports. High-Profile Projects:

Dharavi Redevelopment Ganga Expressway Mega Convention Centre, Mumbai Airport Developments Capital Investments: Adani Enterprises is allocating ?67,000 crore for FY24, prioritizing in-house capabilities to ensure project efficiency.

Leadership Insight: Adani CFO Jugeshinder Singh elaborated on the strategy: "Adani Infra is developing its construction ecosystem to support rising capex and ensure reliable construction across group companies."

Expansion Highlights: Orient Cement Acquisition: 47% stake secured by Ambuja Cements for ?8,100 crore. PSP Projects Growth: Order book expansion anticipated from ?6,500 crore, with involvement in industrial projects at Kandla and Dharavi buildings. Conclusion: The Adani family鈥檚 acquisitions reflect a focused approach to creating an integrated construction ecosystem, enabling efficient execution of its expansive projects. These moves fortify its position as a leader in infrastructure development while advancing its long-term growth goals

Infrastructure Urban

20 May 2025

Silawat Launches Projects Worth Rs 120 Million in Sanwer

Water Resources Minister Tulsi Ram Silawat inaugurated and laid foundation stones for over 100 infrastructure projects valued at more than Rs 120 million during a large-scale public event in Sanwer on Sunday.Addressing the gathering, Silawat emphasised the rapid development seen in Sanwer over the past six years. 鈥淒evelopment works worth several crores have been completed across all 15 wards,鈥� he noted. The projects cover a wide range of civic improvements including cement concrete roads, drainage systems, stormwater lines, bridges, anganwadi centres, community halls, cremation grounds, pl..

Infrastructure Urban

20 May 2025

JSW Trust Sells Rs 12.1 Billion Stake to Aid Akzo Deal

The Sajjan Jindal Family Trust has divested a 2 per cent stake in JSW Infrastructure Ltd 鈥� India鈥檚 second-largest commercial port operator 鈥� for Rs 12.1 billion, selling shares to institutional investors including the Government of Singapore. The move is part of efforts to comply with public shareholding norms and potentially fund JSW Group鈥檚 planned acquisition of Akzo Nobel India.Of the total divestment, 0.88 per cent was offloaded directly to Singapore鈥檚 sovereign entity, which acquired approximately 18.4 million shares via block deals at Rs 288 each, amounting to Rs 5.31 billion,..

Infrastructure Transport

20 May 2025

Maharashtra Approves Shipbuilding Policy to Boost Maritime Sector

The Maharashtra government has approved a new shipbuilding policy to bolster the state鈥檚 maritime infrastructure and promote ship repair and recycling industries. The Maharashtra Shipbuilding, Ship Repair, and Ship Recycling Facility Development Policy 2025 was cleared in the latest cabinet meeting, with a Government Resolution (GR) issued on Friday.This move is expected to attract fresh investments, generate employment, and contribute to foreign exchange savings by reducing reliance on overseas shipyards. The policy aligns with the central government鈥檚 Maritime India Vision 2030 and Marit..