May 16, 2020

China bids to develop India’s highways in $8.6 billion investment project

China Rail Construction Corporation
National Highways Authority of India (NHAI)
Chairman Raghav Chandra
Catherine Sturman
2 min
China bids to develop India’s highways in $8.6 billion investment project
India is currently considering an investment proposal from China Rail Construction Corporation (CRCC) to transform and develop its national highways. A...

India is currently considering an investment proposal from China Rail Construction Corporation (CRCC) to transform and develop its national highways. A meeting has recently been held with top Chinese executives and officials from the National Highways Authority of India (NHAI), alongside Chairman Raghav Chandra to discuss the proposition.

If successful, the company is also hoping to secure other infrastructure bids within India, incorporating both government and public private partnership funded projects.

India is predicted to become the world’s largest construction market by 2030, with planned developments to upgrade 50,000km of national highways. Chandra said: “They are interested to bid for 2,000-3,000 km of highway projects, which is a positive sign for us".

CRCC is the second largest state owned construction and engineering company worldwide and has been behind 80 percent of China’s railways, in addition to 60 percent of its highways, with an annual turnover of $100 billion.

On their website, CRCC has said it “has developed mainly from construction contract into a complete and comprehensive industrial chain of scientific research, planning, survey, design, construction, supervision, maintenance and operation” and ranks “79th among the Fortune Global 500, and 8th among China’s Top 500 Enterprises”. Chandra told ET “they are keen on bidding for around 3,000-km highway contracts. They will be participating in hybrid annuity, build-operate transfer (BOT) and engineering.” 

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Jun 24, 2021

Skanska invests $225m in Houston office project

Dominic Ellis
2 min
Skanska plans to build a 28-floor office tower in Houston as its London office receives WELL Platinum sustainability ranking and drone trials are underway

Skanska is investing US$225m in an office development project, 1550 on the Green in Houston, with construction expected to begin in June and scheduled to be completed in 2024.

The construction contract is worth US$125M, which will be included in the Q2 order bookings. International law firm Norton Rose Fulbright has signed a 15-year lease for about 30 percent of the building.

Located at 1550 Lamar Street, adjacent to Discovery Green, in downtown Houston, Skanska plans to develop and build a 28-floor, 34,800 square meter office tower.

1550 on the Green will be the first part of a three-block master plan by Skanska, which will transform the parcels into a distinguished district known as Discovery West and consist of 3.5 acres of mixed-use development full of restaurants, retail and lush green space. The project will target LEED and WiredScore Platinum certifications.

Since 2009, Skanska has invested a total of US$2.8 billion in commercial and multi-family projects, creating more than 1 million square meters of sustainable and community focused developments in select U.S. markets. Skanska USA had sales of SEK66 billion in 2020 with 7,600 employees in its operations.

Skanska’s flagship London office has set the standard in sustainable workspaces by becoming the first in the UK to achieve WELL Platinum under the new v2 pilot scheme.

The accreditation from the International WELL Building Institute (IWBI) was awarded through the v2 pilot, the newest version of the WELL Building Standard. It looks at all building features and management processes – from air and water quality to lighting, acoustics, nutrition, thermal comfort and mental wellbeing. It’s widely recognised as the industry yardstick for measuring how workspaces can contribute to the wellbeing of occupants.

The offices – which span three floors of the newly developed 51 Moorgate – contain floor-to-ceiling windows for extensive natural light, dedicated wellbeing and quiet spaces, as well as stringent air and water quality monitoring, among a range of other features that have helped earn the standard.

The company has also been exploring drone flights for use in industrial environments.

Peter Cater, Development Manager, said it was invited to carry out trials because of its use and knowledge of drone capability. "The trials have benefited everyone involved: get to test their equipment and remote use of the drones and we get access to accurate, real-time data on our construction activities which benefits us and our customer, the Defence Infrastructure Organisation."

“Projects like this – at the forefront of innovation – go to show what an exciting industry construction is to be involved in. We are always looking for innovative ways of working, ways to be more sustainable so we can find better solutions for our customers. These trials are just one small part of our digital transformation journey.”

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