Navayuga Engineering eyes global market after bagging Guinness record
After securing the Guinness World Record for the largest continuous concrete pour at the Polavaram irrigation project, engineering and construction firm Navayuga Engineering Company (NEC) is planning to eye global markets with its world-class equipment and expertise in completing critical projects in a record time.
NEC is reportedly on the lookout to execute Rs 300 billion of projects on hand over the next three years in order to break into India’s top 10 engineering and construction companies. Apart from the Rs 30-billion hydel power project on an engineering, procurement and construction (EPC) basis, the company is executing around Rs 34 billion of civil works of the Polavaram project.
The Polavaram irrigation project in Andhra Pradesh, currently under construction, involves Rs 570 billion in outlay including land acquisition, rehabilitation and resettlement. The project is expected to irrigate a total of 42 lakh acre of ayacut in two phases, supplying water to all 13 districts of Andhra Pradesh. Considered to be the lifeline of Andhra Pradesh, the project involves 48 gates, each 20-m-high spanning 1.19 km, requiring pouring of 36.7 lakh cu m of concrete, 50,000 tonne of steel and 9.3 lakh tonne of cement, which has all been completed in a record time. It also includes a 930-MW hydel power project.
At present, NEC is executing a few works in Qatar and is looking to bid for dam projects and hydel projects in Africa and Bhutan. The company is rooting to touch a topline of Rs 60 billion this fiscal.