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Sq. Ft and is likely to be commissioned over the next 7-8 months.
Phase 2 will be set up at a approximate cost of 57 crores, funded
through IPO proceeds. In Phase 2, the Company expects to create
direct and indirect jobs for approximately 500 people. CONSTRUCTION
The new plant is designed to meet the highest standards of
efficiency and quality. With this expansion, Interarch is not only
expanding the production capacity but also creating new
opportunities for employment and economic development in
the region.
Arvind Nanda, Managing Director, and Gautam Suri, Whole
Time Director, Interarch Building Products Limited, said, “We
are excited to announce the inauguration
of our fifth PEB manufacturing unit in
INTERARCH BUILDING PRODUCTS LIMITED INVESTS OVER Attivaram, AP, marking a key milestone in
`95 CRORES IN 5 PEB MANUFACTURING PLANT our strategic expansion. This achievement
TH
Interarch Building Products Limited, a leading player in the Pre- not only reflects our robust growth trajectory
Engineered Building (PEB) Industry today announced that the but also our unwavering commitment to
Company has inaugurated its fifth PEB manufacturing plant (4th excellence. As we continue to expand, our
fully integrated unit) in Attivaram Village, District Nellore in the goal remains clear: to set new standards
State of Andhra Pradesh. This manufacturing facility is equipped in the industry through quality, innovation, and customer delight.
with the latest technology and has capabilities to manufacture This new facility enhances our geographical reach and reinforces
Pre-engineered steel (PEB) structures and pre-engineered metal our commitment to innovation, quality, and sustainability. We look
roofing and cladding systems. This plant will contribute significantly forward to contributing to the region’s economic development
to the region’s industrial growth. The Company inaugurated Phase and meeting the growing demand with excellence.”
1 of the plant, which covers 4 acres of the plot and has been Manish Garg, CEO, Interarch Building Products Limited said,
built at an investment of `40 crores (including cost of land). The “Inaugurating this fully integrated PEB manufacturing unit in
investment for phase 1 has been funded by internal accruals Attivaram is a proud moment for all of us at Interarch. This new
and will increase Interarch’s installed capacity by 20,000 MT per facility represents our dedication to driving
annum. This unit has generated new job opportunities for approx. progress and creating value for our clients
250 people, boosting the local economy. The Company further and the communities we serve. This new
did the groundbreaking ceremony for the Phase 2 of the plant, facility will help us service the increasing
which covers 6 acres of the plot and will increase the company’s demand from our discerning consumers
installed capacity by 40,000 MT, increasing the overall capacity to and help us meet our aggressive growth
2 Lac MT per annum. The total plant area of phase 2 will be 2 lac plans.”

MICROSOFT ACQUIRES `520 CRORE LAND PARCEL IN The new land acquisition aligns with Microsoft’s ongoing efforts to
PUNE’S HINJEWADI expand its data centre operations and strengthen its presence
Global technology leader Microsoft has bolstered its presence in India’s burgeoning digital infrastructure sector. The company
in India’s IT sector by acquiring a prime land parcel in Pune’s currently operates data centres in Pune, Mumbai, and Chennai.
Hinjewadi IT Park for `519.72 crore, according to Square Yards. With over 23,000 employees across key cities including Bengaluru,
The acquisition, finalized in August 2024, encompasses 66,414.5 Chennai, Hyderabad, Mumbai, and Pune, Microsoft supports
square meters (approximately 16.4 acres) and was secured from various business functions, such as sales, marketing, research,
Indo Global Infotech City LLP. The transaction included a stamp development, and customer support. Additionally, Microsoft has
duty of `31.18 crore and a registration fee of `30,000. This move launched the “ADVANTA(I)GE INDIA” initiative, aiming to equip
is part of Microsoft’s broader strategy to enhance its commercial 2 million people with AI and digital skills by 2025, as part of its
real estate holdings in India. The company previously purchased global “Skills for Jobs” program. This latest investment highlights
a 25-acre site in Pimpri-Chinchwad for `328 crore in 2022 and Microsoft’s commitment to deepening its engagement in India
acquired 48 acres in Hyderabad earlier this year for `267 crore. and contributing to the nation’s digital growth.

DHARAVI REDEVELOPMENT CONSTRUCTION TO BEGIN IN remained optimistic, stating, “It’s a challenging project, but not
6-8 MONTHS impossible.” He added that the ongoing survey to assess the
Construction for the highly anticipated Dharavi Redevelopment eligibility of tenement residents is expected to be completed
Project, spanning nearly 600 acres in Mumbai, is set to begin by the end of March.
within the next 6-8 months, according to SVR Srinivas, CEO of the So far, the survey has made significant progress, covering a
Dharavi Redevelopment Project (DRP) and the Slum Rehabilitation substantial portion of the area. The redevelopment aims to
Authority, Government of Maharashtra. transform Dharavi into a modern urban space, addressing the
Srinivas acknowledged the challenges of the project but area’s housing and infrastructure needs.

SEPTEMBER 2024|CONSTRUCTION OPPORTUNITIES 33