HT Business: April 26, 2017
Singapore: Singapore-based Meinhardt group on Wednesday said it is strengthening its engineering position to bid for mega infrastructure projects in India.
“India is one of our fastest growing markets and is poised to become a more significant contributor to the Group over the next 5 years,” Meinhardt Group’s chief executive officer Omar Shahzad told PTI.
The group has done more than 60 projects in India in the past 17 years.
Speaking after Road Transport, Highways and Shipping Minister Nitin Gadkari’s meetings with Singapore businesses this week, Omar said: “As Indian cities develop, there will also be a growing demand to develop infrastructure, particularly transport infrastructure.”
India will need $1.15 trillion in infrastructure investments over the next 10 years just to bridge the gap in infrastructure demand and supply.
“It would need lots more to create growth,” he added, pointing out reports about transport infrastructure deficit having an adverse impact on GDP growth in India.
Noting some of the mega project announcements in India, Omar said “Our strategy is to provide for India’s next wave of urban development and infrastructure requirements which will include heavy duty engineering capabilities and more efficient construction processes.”
Meinhardt is well positioned to undertake large and complicated urban development and infrastructure projects to meet India’s development needs, Omar elaborated.
Omar said Meinhardt’s deep expertise in multi modal transport infrastructure globally can help India address its infrastructure development needs, echoing strategies of a number of international engineering groups closely following on mega project announcements in India.
He noted Gadkari’s recent announcement of a multi- billion-dollar development by the Mumbai Port Trust along the Mumbai coastal areas.
Going forward, one of the main concerns would be to reduce the long-lead time in completing mega projects.
“We believe our track record in value engineering to help customers reduce construction time and costs can help address this gap,” added Omar.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.