Page 45 - Construction_Opportunities_August_2024

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INDOSPACE TO LAUNCH TWO NEW INDUSTRIAL & (NH 75), with proximity to major industrial hubs like Vemgal,
LOGISTICS PARKS IN KARNATAKA Malur, and Hoskote. The park is designed to offer a state-of-the-
IndoSpace, India’s leading developer of Grade A industrial and art infrastructure to meet the demands of manufacturers from
logistics real estate, announced two new hubs in Karnataka at diverse industries. INFRASTRUCTURE
an investment of `580 crores. Spread over 75+ acres, they will IndoSpace already has three operational logistics parks in
cater to a range of industries, from automobiles, engineering, Karnataka. IndoSpace Nelamangala I is spread over 16 acres,
and electronics, as well as Third Party Logistics (3PL) operators. IndoSpace Bommasandra, on the new Bengaluru - Chennai
These two new parks are fulfilment of a commitment by highway spans 5.4 acres; and Narasapura I is spread over 64
IndoSpace in a Memorandum of Understanding signed with the acres.
state government. Rajesh Jaggi, Vice Chairman, Real Estate, The Everstone
The MoU envisaged an investment of `3,000 crores in the logistics Group, said, “ We are excited to be an
sector in Karnataka. IndoSpace Nelamangala II logistics park integral part of Karnataka’s industrial
envisages an investment of `240 crores and spans over 35+ growth story with our strategically
acres. The park is strategically positioned along the Bengaluru- located, well-connected logistics parks.
Mumbai highway (NH48), and is set to enhance the region’s Our investment of over `580 crores in
industrial capabilities, providing top-tier facilities for companies these two new state-of-the-art parks
in diverse sectors. spread over 75+ acres in Karnataka, we
IndoSpace Narasapura II, with an investment of `340 crores is continue to scout for more opportunities
spread across 40+ acres, and situated off Old Madras Road, to serve this state’s and India’s economy.”

ANDHRA PRADESH TO UPGRADE FOUR ROADS IN for a four-lane upgrade.
NORTHERN REGION TO FOUR-LANE ROADS • Rambhadrapuram to Rayagada Road: This road, extending
The Andhra Pradesh government is considering a major to Parvathipuram and crossing into Odisha, will serve as a vital
upgrade of four key roads in North Andhra to four-lane status to interstate connection.
improve connectivity, boost spiritual tourism, and alleviate traffic • Nellimarla Junction to Ranastalam Road: Connecting
congestion. This initiative also aims to enhance links to tribal Ramatheerdhalu, this road will facilitate access to significant
regions and interstate roads, benefitting both local and cross- spiritual sites, including the Majji Gairamma Temple in
border travel. Rayagada and the Lord Kodanda Rama Swamy Temple in
Ramatheerdham, potentially boosting tourism.
The proposed upgrades include:
• Vizianagaram to Palasa Road: Stretching 160 kilometers, this Vizianagaram MP Kalisetti Appala Naidu recently met with
road will connect Chipurupalli, Rajam, Palakonda, Kotturu, Chief Minister Nara Chandrababu Naidu to advocate for these
and Palasa in Andhra Pradesh with Parlakhemundi in Odisha. upgrades. CM Naidu responded positively, pledging to advance
It will also facilitate access to Meliaputti, Chapara, and other the development of these four-lane roads.
locations in Srikakulam. This route is expected to serve as an The improvements are expected to streamline travel from tribal
important interstate link and support tribal communities in areas to urban centers like Vizianagaram and Visakhapatnam,
marketing their agricultural products. significantly enhancing regional infrastructure. MP Appala Naidu
• Rambhadrapuram to Chilakapalem Road: This 60-kilometer urged the government to expedite the project to benefit both
stretch, passing through Rajam and Ponduru, is also proposed local communities and visitors.

JSW ENERGY SUBSIDIARY SIGNS 300 MW SOLAR POWER
PURCHASE AGREEMENT IN KARNATAKA
JSW Renew Energy Twenty Limited, a wholly-owned subsidiary of
JSW Energy, has secured a Power Purchase Agreement (PPA) with
Bangalore Electricity Supply Company Limited (BESCOM) for a
300 MW solar project at Pavagada Solar Park in Karnataka. The
agreement guarantees power supply at a tariff of `2.89 per kWh
until FY 2044, with the project slated for commissioning within 18
months.
The PPA follows a letter of award received from Karnataka
Renewable Energy Development Limited (KREDL) on July 22, 2024.
With this latest addition, JSW Energy’s solar pipeline capacity now
totals 3.2 GW, with PPAs signed for 1.3 GW.
The company’s overall locked-in generation capacity has reached
16.7 GW, which includes 7.5 GW of operational capacity and 2.3
GW under construction across various energy sectors. JSW Energy
is targeting a generation capacity of 20 GW by 2030.

AUGUST 2024|CONSTRUCTION OPPORTUNITIES 45