Sunil Hitech Engineers to venture into road sector through joint ventures

The company will look beyond the power sector and plans to bid for NHAI projects

Sunil Hitech Engineers Ltd, which has been focussing on the power sector, now plans to bid for road projects. The company will target schemes from the National Highways Authority of India (NHAI) through joint ventures.

“This year we plan an executive meeting to think about venturing into other sectors. We may probably foray into the road sector,” said Sunil Gutte, joint managing director, Sunil Hitech. However, the plans are still at a preliminary stage.

Mr Gutte said that the focus was on both build-operate & transfer projects as well as contract-based road projects from the NHAI. “I think it (the road sector) is a very promising sector. This year’s Budget has given a major impetus to road projects. Also, as a sector, it provides ample and never-ending opportunities. A number of big road contracts are likely to come up for bidding,” said Mr Gutte.

In order to bid and qualify for NHAI projects, the company plans joint ventures with other companies. “We may look for joint ventures—both domestic and international—to bid and qualify for these projects,” said Mr Gutte.

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COMMENTS

R N GUPTA

7 years ago

Sunil hitech is a deserving candidate for growth as it has done well in power sector in central india and western india

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India to grow at 8.75% in 2010: IMF

However, stronger private consumption and investment will help China power ahead of India, says the International Monetary Fund’s ‘World Economic Outlook’ report

India is expected to grow by 8.75% in 2010 and 8.5% in 2011, driven by strong domestic demand, International Monetary Fund (IMF) has said in its 2010 ‘World Economic Outlook’ released on Wednesday, reports PTI.

It said that India’s projected growth will be supported by resurgence in demand from the working class on the back of an improvement in business confidence that will result in more investments.

“Domestic demand will strengthen as the labour market improves, and investment is expected to be boosted by strong profitability, rising business confidence and favourable financing conditions,” it said.

However, in terms of growth, China will still be ahead of India, the IMF said.

“In China, GDP growth exceeded the government’s 8% target in 2009 and is expected to be close to 10% in both 2010 and 2011,” said the report released on the sidelines of the spring meeting of the IMF.

“What has been so far mainly a publicly driven growth path, built on infrastructure investment, is expected to turn toward stronger private consumption and investment,” the 2010 World Economic Outlook report said about China.

The report said that the strength in final domestic demand in India, and especially China, is expected to have positive spill-over for other Asian economies, particularly exporters of commodities and capital goods.

Asia’s GDP is projected to grow by 7% both in 2010 and 2011.

In Korea, economic activity is expected to expand by 4.5% in 2010 and 5% in 2011, strongly accelerating from 0.25% in 2009.

“This reflects not just strong export growth—with capital exports to China an important element—but also a continued boost from the inventory cycle and a boost in business investment in response to high capacity utilisation and strong business confidence,” it said.

All these factors should help offset the impact of the expected withdrawal of fiscal stimulus in 2010, the IMF added.
 

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