FICCI's infrastructure summit in New Delhi, marked by large participation from all sectors, did not witness remarkable announcements, but for the reiteration that infrastructure is likely to miss the 11th Plan target by more than 10 per cent.
Despite the infrastructure 'boom', the industry has failed to adhere to the momentum expected from it in terms of project execution. Janaki Krishnamoorthi delves into the reasons behind this and discovers that corruption, lack of transparency and rigidity must be eradicated for India to live up to its potential.
While most Indian infrastructure companies are busy grabbing multiple pieces of the Indian infrastructure pie, some are perfectly content with just one piece. A prime example is GPT Infraprojects, a subsidiary of Kolkata-based GPT Group.
Contract value: Rs 800 crore, Particulars: Road project, IRB Infrastructure Developers has received Letter of Award (LoA) worth Rs 800 crore from NHAI for four laning of Goa-Karnataka Border to Panaji – Goa stretch of NH-4A from km 84.000 to km 153.070 in Goa BOT toll basis on DBFO pattern.
Did you know that Dilip Buildcon Ltd (DBL) is currently the largest private-sector, road-focused EPC player in the country, executing projects worth over Rs 6,000 crore? What´s more, DBL is the fastest growing infrastructure development company
IL&FS Engineering and Construction Company has received a Letter of Award (LoA) from National Highways Authority of India (NHAI) for a total value of Rs 1,232 crore for four laning of the Patna-Gaya-Dobhi Section of NH-83 from km 0.000 to km 127.217 in Bihar.
With the change of power at the Centre, the roads sector was expected to get back on the move with fast-track approvals, delink of forest and environment clearances, increased limits on sand mining, positive movement on land acquisition, online filing for clearances to construct rail over-bridges (ROB) and under-bridges (RUB), and change in bidding from BOT to EPC
The change of guard at the Centre bodes well for the roads and highways sector. During its last tenure, the NDA government had built close to half of India´s national highway network that has come up in the past 32 years.