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HCC joint venture bags Rs639-crore Andhra irrigation project contract new

July 31, 2008

Mumbai: Hindustan Construction Company (HCC) jointly with SEW Infrastructures Ltd and Megha Engineering & Infrastructures Ltd (MEIL) has bagged a Rs639-crore contract for building a barrage of around 3.5 km on river Pranahita near Tummidi Hetti village in Adilabad district of Andhra Pradesh.

HCC will have a share of Rs326.03 crore in the work being undertaken for the Pranahitha-Chevella Package-3 being undertaken by the Irrigation & Command Area Development (ICAD) department of the government of Andhra Pradesh.

The contract covers detailed investigation, preparation of designs, drawings and construction of a barrage including fixing of gates, head regulator and 500 meter long gravity canals. The project will be completed in 48 months.

The project is a part of the government’s ‘Jalayagnam’ programme, an initiative to provide immediate irrigation benefits to all underdeveloped regions of Andhra Pradesh.

Pranahitha-Chevella lift irrigation scheme will irrigate an ayacut of 12.20 lakh acres and provide drinking water to about 1,000 villages in Adilabad, Karimnagar, Nizamabad, Medak, Nalgonda and Rangareddy districts in Telangana region.

HCC is currently involved in construction of Godavari lift irrigation phase I and Phase II in Andhra Pradesh where Phase I has already been commissioned and phase II is in advanced stages of completion. In addition, HCC is currently executing four major projects in Andhra Pradesh, including the country’s first cavern for strategic storage of crude oil at Visakhapatnam, the Veligonda lift irrigation project, the Rajiv Sagar lift irrigation project and a 30 km highway of NHAI on NH-7 under north-south corridor on BOT basis.

HCC constructed the first bridge over the river Godavari at Shahgar, in Andhra Pradesh way back in the 1930s. Since then it has built several infrastructure projects, including the Godavari Barrage at Rajahmundry, the Papavinasam Dam, the Vizag Monolith & West Wall Protection and the Railway Bridge over Godavari which is the first and only bow-string bridge in India, the company said in a release.

HCC has so far constructed over 45 dams, barrages and 15 powerhouses in the sub continent, contributing to over 30 per cent of the country’s installed hydropower capacity.

Source: domain-b.com

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Written by ITW Author · Filed Under BOT, Construction, HCC, Infrastructure, Investment and Finance, Mumbai 

Sternon launches Phase 2 of ‘Magic Hills’ NRI project in Navi Mumbai

April 12, 2008

Awarding of contract for the Mumbai-Navi Mumbai, 22-km iconic bridge to the Anil Ambani-led consortium pushes realty prices.

Dubai-based Sternon Group has launched the second phase of its NRI project ‘The Magic Hills’ in Navi Mumbai, as plans for the much-awaited 22-km sea bridge linking the Mumbai metropolis to Navi Mumbai have finally started taking shape.

Navi Mumbai, the planned city that had long suffered due to lack of fast-track connectivity to the Mumbai metropolis, has got the biggest boost in recent history following the awarding of the contract for an ambitious trans-harbour bridge to an Anil Ambani-Hyundai consortium, spurring greater interest among Non-Resident Indian (NRI) investors in Navi Mumbai real estate.

According to Sternon Group, which is developing the NRI mega-project ‘The Magic Hills’ on Mumbai-Pune Expressway in partnership with Mumbai-based Garnet Construction, the real estate market is extremely upbeat following the new development. Sternon Group recently commenced work on the first phase of Magic Hills Residences which was sold out, and has now launched the second phase.

“For several years, there was just talk of a fast-track sea link between the highly congested Mumbai metropolis and the satellite city of Navi Mumbai. Now, that need is being fulfilled through a world-class trans-oceanic bridge that will reduce the commuting time between the twin cities to mere 30 minutes, instead of two hours at present,” said Hussaini F. Nalwalla, Managing Director, Sternon Group.

“The immediate impact of the news is that real estate prices have begun to climb higher, making Navi Mumbai one of the hottest investment destinations in India. We have now launched the second phase of Magic Hills Residences to offer global NRIs another chance to be part of Navi Mumbai real estate boom,” added Nalwalla.

The Sewri-Nhava Sheva bridge is India’s answer to China’s famous 36-km Hangzhou Bay Bridge. Billed as India’s biggest infrastructure project to date, it will be completed in 2013. Contract for the six-lane, 22-km trans-oceanic bridge, estimated to cost over Rs. 6,000 crores, has been awarded to the Anil Ambani-Hyundai consortium. The bridge route will provide a straight link to the upcoming Navi Mumbai International Airport, as it connects the JNPT Port and the southern part of Navi Mumbai leading to Panvel.

The iconic bridge is among the four mega-projects that are driving real estate in Navi Mumbai. The second is the Rs. 10,000 crore Navi Mumbai International Airport to be completed in 2012, boasting two runways. The third is the Special Economic Zone (SEZ) being developed by Mukesh Ambani. The fourth is the Bahrain-based Gulf Finance House’s $10 billion SEZ ‘Energy City India’ spread across 1,600 acres, to be completed in five years.

On the real estate scene, most of the land in Navi Mumbai has been snapped up by builders and developers for townships, five-star hotels and commercial complexes. The Hiranandani Group recently launched ‘Panvel Residential’, a massive complex, which will be part of the mixed-use Panvel Commercial Township.

“For NRIs looking for a sound investment or a second home in India, Navi Mumbai undoubtedly represents a highly attractive option,” said Nalwalla. “Realty analysts are of the view that the Mumbai-Pune Expressway, with easy access to hills stations like Lonavla and Karjat, as well as boom-town places like Pune and Goa, is set to be the hottest investment destination.”

Sternon’s ‘Magic Hills’ is a residential cum commercial project, located close to the Navi Mumbai International Airport. The promoters have recently acquired additional land, taking the total area to 750 acres. The second phase offers villas, row-house and plots, as well as high-end villas for upmarket investors and home-seekers. The future phases of the project will have commercial, IT and educational complexes.

Source: arabianbusiness.com

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Written by ITW Author · Filed Under Construction, Infrastructure, Investment and Finance, Mumbai, Projects