| 08 Sep 2008 |
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NCCL wins two projects worth Dh1.1bn in UAE
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Nagarjuna Construction Company Limited (NCCL), one of India's leading contractors has won two projects worth Dh1.1billion in Dubai and Abu Dhabi.
The contract valued at Dh535 million is from Dubai Water and Electricity AuthorityDubai Water and Electricity Authority
for a 100km pipeline project.Majoe Matthew, General Manager of NCCL's UAE operations told Emirates Business this is the second Dewa project for the company since it started its UAE operations in July 2006. "The first project was to lay a 10 km pipeline, which we completed two months ahead of schedule. Following which Dewa has awarded us another contract for a 100km pipeline," said Matthew.
NCCL has also been awarded the Dh600million project to build 588 villas in Al Ain by the Abu Dhabi Government.
The company recently announced that it is expecting to increase its consolidated turnover in 2008 to reach Dh4.1billion.
At present, the company's global division has an order book of Dh2.7bn comprising road projects, water pipelines and infrastructure projects.
According to Matthew, the expected turnover mark projects are based on the booming construction and property market in the UAE.
"We are planning to invest in the UAE market. During the first few months after setting up business, we evaluated the market and realised the construction industry in the UAE is set to grow more. Today, NCCL is focusing on expanding its share in the booming construction business here," he said.
NCC Urban Infrastructure Limited, a subsidiary of NCCL entered the real estate world through the launch of NCC Harmony, the Dh.1.5bn freehold mixed-use development at Dubai Biotechnology and Research Park. The construction works of NCC Harmony has been handed over to Dutch Foundation and Concrete Processing Co. LLC with the excavation, piling and shoring works already commenced. The development is slated for completion by May 2010.
Meanwhile in recent reports, NCCL, through its wholly-owned subsidiary NCC Infrastructure Holdings Limited, intends to take up about 15 new BOT projects in a couple of years involving an investment of about Rs15,000 crore (Dh12.3bn). Currently, the firm is executing 10 BOT projects worth about Rs7,000 crore in sectors such as roads, power, airports and seaports.
By Joseph George
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