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Reliance Energy Ltd(REL) to hive off infrastructure projects

November 12, 2007

NEW DELHI: In a bid to separate the power and infrastructure projects, Reliance Energy Ltd. (REL) has now decided to transfer all its infrastructure projects to a separate wholly-owned subsidiary.

The REL board had already given its approval to the proposal.

The move comes hot on the heels of REL deciding to hive off its power generation business as a separate company — Reliance Power Limited (RPL).

RPL has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public cffering (IPO) of around Rs. 12,000 crore.

The decision to hive off infrastructure portfolio to a new subsidiary comes in view of the increasing portfolio of the company on this account in recent months.

REL is developing highways for the National Highways Authority of India (NHAI) under the build-own-transfer (BOT) scheme.

It is involved in five National Highway projects in Tamil Nadu, covering a length of 400 km at a cost of Rs. 3,100 crore. In addition, it is pursuing road projects, including the proposed Rs. 5,000 crore Western Freeway sea-link project connecting Worli and Nariman Point in Mumbai and the Rs. 6,000-crore Jaipur Ring Road project.

On the real estate side, the REL-led consortium had emerged as a winner for developing a business city in Hyderabad with an estimated investment of Rs. 6,500 crore. The city will be built in 77 acres, which will include a 100-storey trade tower. It has also bagged the metro rail project in Mumbai that involved the development and operation of a fully-elevated metro rail.

The total cost of the project is around Rs. 2,500 crore. It has also bid for line 2 of the Mumbai metro elevated track between Mankhurd and Charkop with an estimated investment of Rs. 6,500 crore. The company is also bidding for the Rs. 6,000 crore Mumbai trans-harbour link.

Source : The Hindu

Written by ITW Editor · Filed Under BOT, Construction, Highway, Hyderabad, Infrastructure, Investment and Finance, Maharashtra, NHAI, Projects, Reliance 

Ashoka Buildcon Ltd. becomes the first Indian infra company to get the prestigious IMS international certification

November 1, 2007

Ashoka Buildcon Limited (ABL), a renowned infrastructure developer with a track record of over 25 years, has achieved the distinction of becoming the first Indian infrastructure construction firm to receive the prestigious Integrated Management Systems (ISO 9001:2001, ISO 14001:2004 & 18001-1999) certificate (IMS) from International Standards Certification Pty., Australia, covering all business operations, which includes all BOT (build-operate-transfer), EPC (engineering procurement construction) projects, RMC (ready mixed concrete) plants and Toll operations.

This certification is in recognition of the Company’s commitment to continuing improvement of quality, environmental and occupational health and safety management system performance and complying with all applicable legal and contractual requirements while adopting state-of-the-art technology in project execution.

Mr. Ashok M. Katariya, Chairman, ABL, said, “Our technological superiority, rapid progress, quality and construction management skills are guiding us towards our dream of building India 2020. The principal objective of our organisation is to offer the latest technology in civil construction and structural engineering, besides maintaining a quality oriented economy. We have now steadily progressed towards being one of the country’s most experienced infrastructural developers.”

Mr. Satish D. Parakh, Managing Director, ABL, said, “The initiative of acquiring this prestigious international certification was taken in June 2007. Subsequently, we launched a campaign through training reviews, documentation and internal audits, covering all our divisions including operations and maintenances of road infrastructure.” Mr. Parakh added, “This is an endorsement of our ability to conduct operations in a manner wherein we protect people, property and the environment. We do this by identifying, controlling and reducing all associated risks to a level as Low as ReasonablyPracticable.”

Ashoka Buildcon Ltd. had earlier adopted quality management system (QMS) current standard ISO 9001-2000 during the year 1998. In view of the emerging scenario of globalisation of the Indian infrastructure industry and the increasing need for compliance to the requirements of the stakeholders and also for continual business improvement based on sustainable development, the Company went for IMS certification to include EMS (ISO14001) and OHSAS 18001.

This IMS certification will benefit the Company in areas such as reducing multiple assessments; improving legal statutory and regulatory compliance; enhancing employee related safety and good housekeeping, making it more socially responsible; and being perceived as a quality player with a competitive edge for better customer satisfaction.

The Nashik-based Ashoka Buildcon Ltd. is among the first few companies in India to get the ISO 9000 certification, keeping in kind the need of the times to prevent global warming and to preserve the environment. It has received recognition from United Nations for its contribution towards the “billion tree” plantation campaign.

Starting off as an industrial contractor, the Company has now steadily progressed towards being one of the country’s most experienced infrastructural developers spanning across a plethora of mega-infrastructural assignments. It received the Limca Book Awards from completing the bridge across the Mandve river, Maharashtra, within 38 days as against the allotted time period of 12 months.

Over the years, the Company has completed several major bridges and 94 minor bridges. In addition, it has also completed 4 railway-over bridges, 5 flyovers and 7 foot-over bridges. In terms of road length, the Company has completed 1,888 lane kms of road and 988 lane kms of road work is in progress. It has also an established track record of commissioning 13 BOT road projects — the largest in the country. The Company is committed to become an icon in infrastructure development,through innovation, professionalism, active leadership in product quality and sustained growth by delivering value to its customers.

Since its inception in the early 1980s, Ashoka Buildcon Ltd. has successfully completed projects in several states including Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Chhattisgarh and the NCR region. It has emerged as a major BOT toll road operator in the country. It was the first infrastructure Company to complete the work among the seven corridors of Phase I of RIDCOR (Road Infrastructure Development Company of Rajasthan) much ahead of the schedule. It has executed several prestigious projects including the BOT project of Indore Edlabad Road and the East Coast Road from Chennai to Pondicherry, which is reputed as a world class road. The prestigious projects executed by the Company in the western region also include the Pune Shirur Road Project and the Nagar-Karmala road project. It has also executed various projects including the construction of a five star Hotel Sun-N-Sand at Shirdi, Railway overbridge at Nashirabad, Yashvantrao Chavan Open University Building at Nashik. The Company is a responsible corporate citizen engaging in philanthropic activities committed to environment protection, education and agriculture.

Source: indiaprwire.com

Written by ITW Editor · Filed Under BOT, EPC, IMS, ISO, Maharashtra, NCR, Rajasthan 

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