CMD's Note

India’s infrastructure industry is awaiting a big revival and is hoping for rejuvenation. There is certainly hope.

As the nation welcomes the new establishment, it has promised to introduce high-speed bullet trains, build 100 new modern cities and expedite freight and industrial corridors to improve the country’s infrastructure. We expect to re-energize ourselves, as the Government has proposed more infrastructure friendly policies.

Water is the harbinger and sustainer of all life, on the planet. With the increasing demand by the growing population and improvement in economic status, the demands on the available resources are increasing and we have to constantly strive towards stretching the same water to satisfy larger needs. As a result, there is an urgency to conserve and utilize the limited availability of water resources in an optimum and efficient manner. We at IVRCL have made ‘Water’ our calling and are and have been fully focused on this vertical.

India is home to 16 % of the world’s population, has only 2.5% of the earth’s land area and just 4% of its water resources. We have made of our contributions in water related infrastructure works, which are substantial. We own India’s largest desalination plant, Add to this Gravity Canals like Telugu Ganga Project, Indira Sagar Project, Lift Irrigation Systems, Koilsagar and Punasa, Sewage Treatment Plants (STPs), JBIC Assisted Kerala Water Supply Projects, Construction of India’s largest 140 ML Master Balancing Reservoir, Hogenakkal Water Supply and Flurosis Mitigation Project, intake wells, and various distribution and water transmission works and the picture of why IVRCL is known as a Water Giant becomes clear.

We have completed 26,000 kilometers of Water Pipelines, and 2300 kilometers of canals thus helping irrigate 150 million hectares of land by our engineering expertise.

The present Central Government announced an additional Rs. 2040 crores for cleaning the River Ganga. We want to extend our expertise in water treatment to clean up this holy river.

We have laid and are nearing completion of nearly 8000 kilometers of roads, over 100 kilometers of tunnels and have completed nearly 30 million Sft of buildings and another 25 million Sft are underway. We have brought electricity for the first time to millions of homes, through our Power Transmission and distribution works and are helping India progress and her children to study under electric bulbs.

None of the above is grounds for complacency. Our hearts and minds are as ignited and there is fire in our bellies. It’s not the top or bottom line of our balance sheet that drives us, but the value we add with our work, the water we reach to the farmer, the bulbs that lights up a child’s face in a remote village. That’s our passion. The hearts we touch, the smiles we bring.

Due to lack of proper guidelines, build-operate-transfer (BOT) projects have become mere idle talk. Had the same amount been invested on EPC projects, no company would have faced losses and debts of a such high magnitude.

The transition from the bidding to financial closure of a BOT project is a crucial factor in overall project cost. If the period is extended, that leads to a price hike. Also, inflation takes its toll.

Some amendments need to be made and a more potential approach needs to be adopted fix this recurring problem faced by BOT projects. As otherwise most companies will consider EPC projects to be safer alternatives. IVRCL has also faced this problem with regard to road projects that are BOT-based as also for the water projects. So, our futuristic approach will see a drastic shift from BOT projects.

As a three decade old corporate, we are creative, ambitious and bold. We shaped our destiny and set rock-solid fundamentals, not by emulating the examples set by others. We believe in a pioneering and trend-setting approach to business. We always have. Today, our efforts yield solid results. The orders continue to flow. Work at most of our project sites continues at a fair pace, in spite of odds.