Renaatus Projects Private Ltd., a Chennai-based construction and construction material manufacturing company, on Monday announced that it has won a US$29 million (approx ₹238 crore) contract from the Maldives government to expand and upgrade the infrastructure of Gan International Airport, operated by Addu International Airport.
The project, funded by Exim Bank, involves the construction of air traffic control tower, fire station as well as upgrading and renewing the current terminal, parking facilities, roads, duty-free shops and restaurants, Renaatus said in a press release. The project is expected to begin this month and will be completed by 2025.
Renaatus Projects is a part of Erode-based RPP Group, a construction and construction supplies company. Renaatus Projects is involved in construction of several public infrastructures, irrigation systems, government institutions and government housing complexes across Maldives and Mauritius and Tamil Nadu in India.
Future projects
Selvasundaram Poosappan, Chairman, said that the group has a strong foothold in Maldives and Mauritius and it is now focussing on the Indian market. “Our group is poised to achieve a turnover of ₹3,500 crores by 2030,” he added. The Group’s turnover for FY23 is estimated at ₹800 crore, according to a release.
Further, Renaatus said the group is also involved in four infrastructure projects in Maldives including two social housing projects funded by the government and two housing projects totalling 600 units of its own. Renaatus also runs three plants to manufacture Autoclaved Aerated Concrete (AAC) blocks (sold under the brand name of Renacon), panels, adhesives in Tamil Nadu . The company plans to set up seven more manufacturing units across India.