Potential Acquisition and Infrastructure Outlook
On September 20, 2024, the BSE Exchange sought clarification from ITD Cementation India Ltd regarding news reports about a potential acquisition by the Adani Group. The company's response is still awaited.
Earlier, on July 3, 2024, ITD Cementation informed the exchange that its promoter shareholder, Italian Thai Development Public Company Limited, was exploring a potential divestment of its investments in the company. The process was at a preliminary stage, and no definitive decision had been made.
As of June 2024, Italian Thai Development Public Company Limited held a 46.64% stake in ITD Cementation.
ITD Cementation is a leading engineering and construction company specializing in heavy civil, infrastructure, and EPC projects. The company has expertise in various areas, including maritime structures, mass rapid transit systems, airports, hydroelectric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial structures and buildings, foundation & specialist engineering. As of June 30, 2024, the company's consolidated order book stood at Rs 18,536 crore.
Despite facing challenges such as regulatory and policy issues, funding and financing, skilled labor shortages, project execution & quality, sustainability, and environment, the infrastructure outlook for India remains promising. This optimism is driven by government initiatives, increased private-sector participation, and a focus on sustainable and inclusive growth. Continued momentum in infrastructure development is expected to contribute significantly to India's economic resilience and competitiveness on the global stage.
The government's emphasis on improving connectivity through projects like Bharatmala Pariyojana for road development, Sagarmala Programme for port-led development, and several other initiatives like National Infrastructure Pipeline and National Monetisation Pipeline demonstrates its commitment to fostering growth in the construction sector and enhancing the overall quality of urban and rural life in India. These initiatives are aimed at attracting investments, improving project execution, and creating employment opportunities.