New Delhi [India], October 13 (ANI): September 2024 saw highest new investment in the power sector which accounted for about 50 per cent of the total value of investment during the month says a monthly investment report by Dolat Capital.
Manufacturing sector comprises of 17.4 per cent of the total value of new investments, while others contributed to 10.3 per cent of the value.
New Investments in the power sector skyrocketed on YoY basis to Rs 966.8 billion.
Although the total new investments declined in Septmber by 12.5 per cent year-on-year (YoY) to Rs 1,937.5 billion, primarily influenced by substantial decreases in the manufacturing and roads sectors.
The Solar-Wind Hybrid Power project in Dwarka, Gujarat, valued at Rs 250 billion is a major project driving the growth in the power sector.
The manufacturing sector, which comprised 17.4 per cent of total investments, saw a significant decline of 76.4 per cent YoY to Rs 336.2 billion. Despite the downturn, a major investment in this category is the solar panel project in Greater Noida, Uttar Pradesh, valued at Rs 40 billion.
Other sectors, including ports and transport infrastructure, contributed 10.3 per cent of the total value. Notably, the Deepwater Port project in Ankola, Karnataka, worth Rs 55 billion, is a key project under this category.
Region wise, Gujarat topped the tally, accounting for 33.1 per cent the total new investments in September 2024. Maharashtra followed with a 19.3 per cent share, further consolidating its position as a key player in the infrastructure sector.
The number of tenders issued in September 2024 increased by 7.9 per cent MoM increase, as mentioned in the report.
According to the report, this rise was primarily driven by the roads and power distribution sectors. The Roads sector led the pack, contributing 47.8 per cent of the total tender value. A standout project in this category is the development of an 8-lane elevated flyover, including the upgrade from 4 to 6 lanes, in Ratnagiri, Maharashtra, valued at Rs 74.3 billion.
Key projects include the provision of technical area infrastructure at Naval Station Rambilli in Visakhapatnam and a water supply system for the Kekri-Sarwar sector in Ajmer, Rajasthan.
Maharashtra again led in tender issuance in September, followed by Karnataka.
The roads sector accounted for 26 per cent of the total projects awarded. One of the largest projects awarded in this category was the design and construction of the Balkum to Gaimukh NH-3 Connector in Maharashtra, valued at Rs 27.3 billion, which was awarded to Navayuga Engineering Co. Ltd.
The water sector accounted for 16.1 per cent of the total value, with a major project being the EPCC of a 300 MLD Mega SWRO Desalination Plant in Yanbu, Saudi Arabia, valued at Rs 27 billion, awarded to Va Tech Wabag Ltd.
In the irrigation sector, which comprised 14.9 per cent of the total value, the Sitapur Hanumana irrigation project in Madhya Pradesh, valued at Rs 37 billion, was the largest project awarded, and was secured by HES Infra Pvt. Ltd.
Maharashtra dominated project awards in September 2024, followed by Madhya Pradesh, as per the report. (ANI)
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