Frequently, major projects and investments are only possible if insurance cover is available, but infrastructure project suffer from risks that are not covered. Easwara Narayanan M explains the types of general insurance available to the industry.
Tag: Construction
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Making difference in homeland
When Srini Kris left India at the age of 22 to pursue an engineering career in the US, he always hoped one day to return. Little did he know that running the Indian operations of URS, one of the world's leading engineering, construction and techni¡cal services companies
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Maharashtra mulls EPC model
The Maharashtra government considers a proposal to award the Rs 9,360-crore Mumbai Trans Harbor Link project on engineering procurement construction (EPC) model. The state government is considering EPC model after three failed attempts to award it under build-operate-transfer (BOT) route.
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L&T wins water project orders
The Water & Renewable Energy Business of L&T Construction has secured new orders worth Rs 1,141 crore in August 2013 in various business segments. The Water Supply & Distribution Business secured an order from the Public Health Engineering Department
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The Big 5 Construct India 2013
he Big 5 Construct India 2013 held at the Bombay Exhibition Centre in Mumbai recently drew attention of the construction and infrastructure sector. The event showcases new global products and technologies in product sectors. The Big 5 Construct India 2013 was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)
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Finished steel consumption inches up 0.2%
During Apr-Jul 2013, consumption of finished steel in India rose just 0.2 per cent to 24.1 million tonne (mn t) on year-on-year basis. During the same period, steel output grew 3.1 per cent to 26.1 mn t, from 25.3 mn t during the year-ago period. The muted growth in steel consumption is attributed to poor off-take by large sectors like construction and auto
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Domestic steel output stands at 19.61 mn t in Apr-Jun 2013
Union Minister of Steel Beni Prasad Verma informed the Lok Sabha that domestic production of crude steel in the first quarter of the current year stood at 19.61 million tonne. He further said that steel is a deregulated sector, the role of the government is that of a facilitator providing a conducive policy environment
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Severstal not keen on NMDC’s 3 mn t steel project
CS Verma, Chairman of NMDC informed media persons that the Russian company Severstal did not show much interest on the 3 million-tonne-a-year steel plant project and hence the former may implement it as an NMDC-only project. In 2010, both the firms signed initial agreements for the project and it is not known why Severstal is not interested in the project
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GPPL to invest Rs 11 bn on capacity enhancement
In the next two years, APM Terminals-owned Gujarat Pipavav Port (GPPL) plans to invest Rs 1,100 crore to double container capacity and setup tank farms at an investment. GPPL, which runs IndiaÂ’s first private port at Pipavav, plans to expand its container capacity from the existing 850,000 twenty foot equivalent units of containers (TEUs) to 1.5 million TEU
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Govt to promote affordable housing via novel scheme
Union Minister of Housing and Urban Poverty Alleviation Girija Vyas informed that the government would soon launch the Revised Affordable Housing in Partnership (AHP) scheme. The minister said this while addressing the REALTY 2013, Confederation of Indian IndustryÂ’s (CIIÂ’s) flagship con