SP Group sharpens Rs.25,000 cr infra plans

    Shapoorji Pallonji Group
    Shapoorji Pallonji Group, which is a Mumbai-based real estate developer, has planned to invest about Rs.25,000 crore in building big-ticket infrastructure projects in the next couple of years, said executive director, Jai Mavani, that the player is greatly enthused by the strong political will the government has displayed in pushing reforms agenda and this has given confidence to accelerate investment plans. The group, which built the iconic Reserve Bank of India headquarters and National Centre for Performing Arts in Mumbai, will invest Rs.8,900 crore to build a new port in Saurashtra in Gujarat and another Rs.6,500 crore to construct the Jammu-Udhampur highway and the Pandoh-Takoli highway. Other big investments in the pipeline include expansion of Dharamtar port in Mumbai, and purchasing majority stake in Gopalpur port in Odisha adjacent to Tata Steel’s 3 million-tonne steel plant, Mavani said. Out of the targeted investment it plans to invest Rs.3,000 crore overseas. Most of the investments would be routed through SP Infra, the group’s wholly-owned infrastructure asset ownership company, and various special purpose vehicles under the parent company, he said.
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