IVRCL Bags Multiple Orders Worth Rs 832.51 Cr

Shares of IVRCL zoomed high after the news of company getting multiple orders worth Rs 832.51 crore for multiple projects.

IVRCL Infrastructures & Projects Limited is a renowned engineering and construction company in India. It is also engaged with the business of development and execution of engineering procurement, construction and commissioning in various infrastructure projects like water supply, roads and bridges, townships, industrial structures and power transmission.

According to sources, the multiple orders were bagged from different sources like water resources department, Mumbai, Power Grid Corp Ltd and a thermal power project in Tamil Nadu.

In the morning session, the shares of the company were trading at Rs 180.15, which was higher by 1.29% or Rs 2.30 on the NSE.

HCC Ties Up With Egypt Based Orascom Construction

HCC Infrastructure, a subsidiary of Hindustan Construction Company, on Tuesday said it has tied up with a major Egyptian firm, Orascom Construction Industries (OCI), to jointly develop large national highway projects.

The company in a regulatory filing said it would seek to broaden the partnership with OCI other than bidding for projects on offer from the National Highways Authority of India (NHAI) and the two intend to create a portfolio of premium infrastructure assets across sectors.

"Both Hindustan Infra and OCI share the same commitment to quality and this joint venture will yield significant synergies for both groups," said Nassef Sawiris, chief executive officer and chairman of OCI.

HCC Infra has a road portfolio of Rs.5,539 crore, including six NHAI projects, of which one is operational.

Industry leaders in the UK are urging the government to consider the construction industry before making spending cuts which could affect projects in

The Construction Products Association (CPA) has written to the Chancellor George Osborne urging him to focus public spending in construction to boost economic recovery, which in turn could impact on firms with offices in the GCC.

Anticipating difficult conditions ahead and another drop in construction output this year, the CPA highlighted the importance of construction in enhancing economic growth, in the build up to Mr Osborne’s Emergency Budget statement.