![]() Financial Daily from THE HINDU group of publications Saturday, Mar 23, 2002 |
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Industry & Economy
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Real Estate & Construction Malaysia keen on construction tie-ups Our Bureau
HYDERABAD, March 22 MALAYSIA is keen on sustained partnership with Andhra Pradesh in several infrastructure fields, especially in the construction industry, according to the Malaysian Minister for Works, Mr S. Samy Vellu. Addressing the first four-day International Conference on Construction Industry at the campus of National Academy of Construction (NAC) here, Mr Vellu said his country was interested more in technology transfer pertaining to the construction industry. According to him, there was an urgent need to radically improve human resources training methods by the Indian construction industry, keeping in view the increasing competition from international players. Stating that the productivity levels of Indian construction industry were quite low compared to many developing countries, he said the Government must put in place improved business processes, upgrade technology strengths through increased R&D efforts and enhance productivity through increased levels of skilled manpower in the industry. Echoing similar views on partnership with Malaysia, the Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, said the State Government was actively negotiating with various agencies and institutions in Malaysia for forging strategic alliances both for technology transfers and equity partnerships in several infrastructure projects. The greenfield international airport project coming up at Hyderabad was currently being executed by the Malaysian Airports Authority-GMR Vasavi alliance. With all necessary approvals in place, the international airport project is set to take off by 2005. Further, keeping in view the global expertise of Malaysian agencies and institutions in the area of infrastructure development, the State Government had entrusted three of the major national highway projects funded by the World Bank, to IJM Corporation of Malaysia, he said. According to Mr Naidu, the construction industry was poised to grow at a rate of 15 per cent per annum, much above the growth rates projected in other segments of economy. Stating that the State had abundant human and technical resources in the area of construction industry, he said nearly 80 per cent of the contractors in the country were from the State. Stating that NAC was in parleys with various reputed construction companies and institutes across the globe for forging strategic alliances in areas of technology transfers and human resources development, Mr Naidu said the success of NAC was expected to help the growth of equipment manufacturing segment related to the construction industry. The NAC Director-General, Mr R.C. Sinha, said the academy campus was completed much ahead of the schedule of June and at a lower capital expenditure. As against the estimated cost of Rs 24.68 crore, the tender was fixed at Rs 23.11 crore and the project was successfully completed at a cost of Rs 23.06 crore, he said.
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