Newsmakers
ECONOMY & POLICY

Newsmakers

Saudi Energy Booster
Manish Mohnot, CEO and Managing Director, Kalpataru Projects International (KPIL), heads one of India’s largest engineering, procurement, and construction (EPC) companies which has signed a major EPC contract worth Rs.75.5 billion for the pivotal Master Gas System Network (MGS-3) with Saudi oil giant Aramco, which will fortify Kalpataru’s order book profile and propel its oil and gas business towards a robust global growth trajectory in future. This expansion of the network is expected to enhance its ability to meet the growing energy demand of the global natural gas market. The scope of the contract encompasses laying over 800 km of gas pipelines which is anticipated to bolster the capacity to meet the burgeoning energy demand in Saudi Arabia and phase out the combustion of liquid fuels, aligned with its push towards a diversified energy mix.

‘Paving’ the Path to Success
Shubhabrata Saha, MD and CEO, AJAX Engineering, helms the first Indian concrete equipment manufacturer to export slip-form pavers, which is specialised heavy concrete equipment used for concrete laying, mostly in large-scale infrastructure projects. The milestone of being the first company in the nation to export slip-form pavers underscores the commitment to technological advancement and relentless pursuit of innovation. By exporting slip-form pavers to global markets, spanning across Russia and Africa, the company is setting a remarkable precedent for India’s innovation and excellence in the global concrete equipment industry. Currently exporting its equipment to 45+ countries, in alignment with the government’s vision of ‘Make in India, made for the world’, the leading concrete equipment manufacturer in India (AJAX) is a testament to this growth story.

Megha Bags Mega Contracts
PV Krishna Reddy, Managing Director, Megha Engineering and Infrastructures (MEIL), helms the second largest construction company that was in the news for having bought the second-highest number of electoral bonds worth `9,660 million. The company has recently won four contracts in four key Maharashtra State Road Development Corporation (MSRDC) contracts for various projects including the Virar-Alibaug multipurpose road and Pune ring road. It will now be responsible for three stages of the Pune road and one stage of the multipurpose road. It got the contract for stages one, five and seven of the Pune project and managed to secure a contract for stage nine of the multipurpose road. MEIL is also building the challenging Zojila Tunnel and has built the Kaleshwaram Lift Irrigation Project for the Telangana Government.

Trade Captain
Sarbananda Sonowal, Union Minister of Ports, Shipping & Waterways, was at the helm of affairs when the historic long-term bilateral contract on Chabahar Port Operations was signed between India and Iran to enable operations of the Shahid-Beheshti terminal in the Chabahar port development project for 10 years. A focus area for both sides now will be the acquisition of equipment and machinery that can boost operations at the Shahid Beheshti terminal. The Indian side will procure equipment such as mobile harbour cranes (MHCs), rail-mounted quay cranes (RMQCs), rubber tyred gantry cranes (RTGCs), reach stackers, forklifts and pneumatic unloaders, etc at Chabahar Port as part of its commitment to invest $120 million. The agreement paves the way for enhanced trade and investment opportunities, which will potentially boost India’s economic development.

Saudi Energy Booster Manish Mohnot, CEO and Managing Director, Kalpataru Projects International (KPIL), heads one of India’s largest engineering, procurement, and construction (EPC) companies which has signed a major EPC contract worth Rs.75.5 billion for the pivotal Master Gas System Network (MGS-3) with Saudi oil giant Aramco, which will fortify Kalpataru’s order book profile and propel its oil and gas business towards a robust global growth trajectory in future. This expansion of the network is expected to enhance its ability to meet the growing energy demand of the global natural gas market. The scope of the contract encompasses laying over 800 km of gas pipelines which is anticipated to bolster the capacity to meet the burgeoning energy demand in Saudi Arabia and phase out the combustion of liquid fuels, aligned with its push towards a diversified energy mix. ‘Paving’ the Path to Success Shubhabrata Saha, MD and CEO, AJAX Engineering, helms the first Indian concrete equipment manufacturer to export slip-form pavers, which is specialised heavy concrete equipment used for concrete laying, mostly in large-scale infrastructure projects. The milestone of being the first company in the nation to export slip-form pavers underscores the commitment to technological advancement and relentless pursuit of innovation. By exporting slip-form pavers to global markets, spanning across Russia and Africa, the company is setting a remarkable precedent for India’s innovation and excellence in the global concrete equipment industry. Currently exporting its equipment to 45+ countries, in alignment with the government’s vision of ‘Make in India, made for the world’, the leading concrete equipment manufacturer in India (AJAX) is a testament to this growth story. Megha Bags Mega Contracts PV Krishna Reddy, Managing Director, Megha Engineering and Infrastructures (MEIL), helms the second largest construction company that was in the news for having bought the second-highest number of electoral bonds worth `9,660 million. The company has recently won four contracts in four key Maharashtra State Road Development Corporation (MSRDC) contracts for various projects including the Virar-Alibaug multipurpose road and Pune ring road. It will now be responsible for three stages of the Pune road and one stage of the multipurpose road. It got the contract for stages one, five and seven of the Pune project and managed to secure a contract for stage nine of the multipurpose road. MEIL is also building the challenging Zojila Tunnel and has built the Kaleshwaram Lift Irrigation Project for the Telangana Government. Trade Captain Sarbananda Sonowal, Union Minister of Ports, Shipping & Waterways, was at the helm of affairs when the historic long-term bilateral contract on Chabahar Port Operations was signed between India and Iran to enable operations of the Shahid-Beheshti terminal in the Chabahar port development project for 10 years. A focus area for both sides now will be the acquisition of equipment and machinery that can boost operations at the Shahid Beheshti terminal. The Indian side will procure equipment such as mobile harbour cranes (MHCs), rail-mounted quay cranes (RMQCs), rubber tyred gantry cranes (RTGCs), reach stackers, forklifts and pneumatic unloaders, etc at Chabahar Port as part of its commitment to invest $120 million. The agreement paves the way for enhanced trade and investment opportunities, which will potentially boost India’s economic development.

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