Category — Construction

HTT Signs MoU with India’s State of Andhra Pradesh

Hyperloop Transportation Technologies (HTT) signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board, to facilitate the development of HTT’s Hyperloop Transportation System in the state, said CEO and co-founder Dirk Ahlborn.

The proposed route for the Hyperloop is between the city centers of Vijaywada and Amaravati, which will potentially turn a trip of more than one hour into a 6-minute ride. The project will use a Public Private Partnership model with funding primarily from private investors.

This is the first agreement in India to put together a Hyperloop-based system, and will start with a six-month feasibility study starting in October, to help determine the best route between the two cities, reports socaltech.

Hyperloop One in India

October 29, 2017   No Comments

Consul General of Atlanta Says India is a Largely Untapped Market

Nagesh Singh, consul general for India in Atlanta, said that despite being the world’s fifth largest economy, India remains a largely untapped market which has plenty of opportunities for partnerships with domestic companies. He added that India hopes to increase bilateral trade with the United States from $120 billion to $500 billion in 2025.

Nagesh Singh, India's Consul General of Atlanta

Nagesh Singh, India’s Consul General of Atlanta

GSA Business Reports says that Singh outlined many areas of business opportunities in India:

  • Defense – India is the second-largest importer of arms with an annual expenditure of $15 billion in 2016.
  • Automotive – India is making strides to become the third-largest automotive market in the world by 2022. The country has a $300 billion market and produces only 20% of vehicles sold there.
  • Infrastructure – India plans to spend $1 trillion by 2030 to upgrade roads, bridges and utilities.
  • The country also represents a $600 billion retail market and a $120 billion aerospace market.

Singh noted that businesses in India plan to invest more in the United States. “India is becoming a very important part of providing direct investment to this country,” he said, adding that a recent survey of Indian businesses showed 90% of them want to invest more in the United States.

 

October 16, 2017   No Comments

UPS Launches Logistics Facility in India

Atlanta-based UPS, the world’s largest package delivery company and a provider of supply chain management solutions, launched its new integrated logistics facility in Hyderabad, India. “India is one of the fastest growing G20 economies and Hyderabad is fast becoming a ground for implementation of the `Make in India’ initiative, said Jean-Francois Condamine, president, Indian Subcontinent, Middle East and Africa.

Spread over nearly 4,000 square feet, the facility will provide integrated services — small package, supply chain solutions, and contract logistics — to help businesses gain faster and more efficient access to international markets, reports the Times of India.

Rachid Fergati, managing director, Indian Subcontinent, UPS said that sectors such as healthcare, aerospace and manufacturing in the southern state of Telangana, “need logistics partners to create supply chain efficiencies, which is one of UPS’s key focus areas in India. The consolidation of the three key services, backed by UPS’s advanced technology, will help reduce costs, improve efficiency and increase competitiveness for businesses in Hyderabad.”

A warehouse

October 15, 2017   No Comments

Blackstone’s Strategy in India Yields Rich Dividends

Tuhin Parikh, senior managing director for real estate in Mumbai at the New York City-based PE and asset management firm Blackstone, has aggregated a 100-million-sqft portfolio in India. Parikh and Blackstone scripted a gold rush into the country’s rent-yielding office spaces, which saw Brookfield Asset Management, Qatar Investment Authority and others investing in India.

The Times of India reports: Parikh struck acquisitions, joint ventures and made strategic investments to build the India portfolio that dwarfs Goliaths such as Boston Properties and Vornado Realty in the U.S. Now, Blackstone plans to list one of its joint ventures, Embassy Office Parks, which bankers expect to fetch a $4-5 billion valuation. Later this year, Embassy REIT will list 35 million sq ft operational and pre-leased offices, with $240 million in annual rentals, to raise as much as $1 billion. This provides both Blackstone and Embassy with liquid shares in a  publicly listed trust, offering inflation-hedged returns to investors fleeing gold and residential markets.

Real Estate

Through strong local partners and outright acquisitions Parikh has 27 projects on the ground across six cities in India. Global investors Canadian Pension Plan and GIC of Singapore, among others, are looking to invest in India’s realty market.

August 12, 2017   No Comments

Russia to Build Two New Nuclear Power Plants in India

India and Russia signed the General Framework Agreement and Credit protocol for Units 5 and 6 of the Kudankulam Nuclear Power plant located in the southern state of Tamil Nadu. Nuclear Power Corporation of India Ltd., and Russia’s Atomstroyexport, a subsidiary of Rosatom, will build the reactors. Each of the two units will have a capacity to produce 1,000 MW of power.

Both countries agreed that there were ‘steady and demonstrable’ achievements in bilateral civil nuclear partnership, including transforming the Kudankulum site into one of India’s largest energy hubs, reports BusinessLine.

PM Modi and President Putin

“We will strive to build an ‘energy bridge’ between our states and expand bilateral relations in all areas of energy cooperation, including nuclear, hydrocarbon, hydroelectric, and renewable energy sources and in improving energy efficiency. Cooperation in the peaceful uses of nuclear energy has emerged as one of the hallmarks of the strategic partnership between the two countries, contributing to India’s energy security and energizing broader scientific and technological cooperation,” said a ‘Vision Document’ issued after the talks.

June 8, 2017   No Comments