Having gained expertise from the Polavaram irrigation project in Andhra Pradesh, Navayuga Engineering Company (NECL) is on the lookout for large engineering infrastructure projects within the country and overseas as well.
Having gained expertise from the Polavaram irrigation project in Andhra Pradesh, Navayuga Engineering Company (NECL) is on the lookout for large engineering infrastructure projects within the country and overseas as well. This includes tunnel, highway, power, hydel and port projects, among others.
“We are on the lookout for large projects. We are participating in tenders in the Jammu and Kashmir and Bhutan. We plan to take up dam and barrage construction as it gives a lot of opportunity for design and development,” Sridhar Chinta, managing director at Navayuga Engineering, told FE.
As on date, the company has an order book of projects worth Rs 28,000 crore to be executed in the next three to four years. Some of the projects include construction of longest river bridge Dhola-Sadiya, Dibang-Lohit river management system, longest highway tunnel project from Quazigund to Banihal, Krishnapatnam port, which is the longest port on the east coast. With the completion of Polavaram irrigation project by June 2019, the company is targeting a topline revenue of `11,000 crore in the next three to four years from the present level of `6,000 crore. He said that there is a huge opportunity in heavy engineering projects. “There is about `1.5-lakh-crore worth projects across the country to be executed in the next five to seven years, which are all promising opportunities for us to tap,” he said.
Further, he also said that there will be consolidation in the infrastructure industry. “There will be very few players, about 8-10 players, who can execute big projects. We are hopeful that we will be one among them,” he added.
On the challenges in the industry, he said that most government projects are not well-funded. However, with consolidation and awareness on need-based projects, funding is likely to become easier for many time-bound projects.