KUALA LUMPUR (March 17): The Construction Industry Development Board (CIDB) is urging Malaysian construction stakeholders to take advantage of the rapid redevelopment and economic expansion in India, especially infrastructure projects involving rail land and stations.
“CIDB, through its wholly-owned subsidiary CIDB Holdings Sdn Bhd, will be working closely with Rail Land Development Authority, Indian Railways and Indian Railway Stations Development Corp Ltd to explore possible collaboration opportunities between the two countries,” Datuk Sri Dr Judin Abdul Karim, chairman of CIDB Holdings Sdn Bhd, said at a media briefing yesterday.
“Given the sheer size of the Indian economy driven by a population of over 1.2 billion people and the emerging middle class, the demand for infrastructure needs could hardly be fulfilled. The fast-growing economy of India is expected to gain momentum for the next few years with abundant development opportunities, especially the infrastructure segment,” said Judin.
CIDB will be hosting a seminar and business matching session for the stakeholders of the construction industry on March 20 at Renaissance Kuala Lumpur Hotel, themed “INCREDIBLE INDIA: Indian Rail Land & Stations Redevelopment Business Opportunities in India”.
“The forthcoming event serves as a networking platform for exporters and ready-to-export construction stakeholders to explore the said business opportunities in India. Both Malaysian and Indian panelists will be enlightening participants on different strategic partnerships relating to the Indian rail land and station redevelopment projects across major cities in India. The business opportunities come in the form of public-private partnership where Malaysian companies may look forward to spreading their wings to India,” he continued.
The said redevelopment opportunities will be taking place in key cities such as Mumbai, Delhi, Jaipor, Hyderabad, Chennai and Bangalore, according to Judin. He also lauded the strong leadership by India’s Prime Minister Narendra Modi, which brings about stability and clarity, two very important factors that drive the economy of India.
“One thing I would like to highlight here is that railway infrastructure is a sustainable development and possibly the best commuting means in India. And for added peace of mind, all the lands designated for redevelopment belong to the Indian government, hence saving stakeholders of future land dispute matters,” he added.
Judin also revealed that the by-invitation event would gather some 50 invited local industry stakeholders. Nevertheless, all interested parties are welcomed to the business networking event, which will be officiated by Ministry of Work secretary general Datuk Seri Zohari Akob, who is also the appointed Nodal Officer (Project Investments) Malaysia for India.
The proposed speakers or panelists representing India include Railway Board’s adviser (station development) Rajiv Chaudhry, Railway Board’s executive director (station development) Vivek Saxena, Indian Railway Station Development Corp chief executive officer Sanjeev Kumar Lohia and Railway Board’s director/Finance/PPP Rahul Kapoor.
This article first appeared in The Edge Financial Daily, on March 17, 2017.