Latest news with #EPC
Business Insider
3 hours ago
- Business
- Business Insider
Africa's tallest skyscraper project resumes as Ethiopia revives $445 million tower bid
Ethiopia has reignited plans to construct what could become the tallest skyscraper in sub-Saharan Africa, marking a bold signal of the country's long-term vision for economic transformation and urban modernization. Ethiopia plans to construct the tallest skyscraper in sub-Saharan Africa, the $445 million EEP tower. The 62-storey building will be located in Addis Ababa's Kirkos district and will serve as Ethiopian Electric Power's headquarters. The bidding process for the project has reopened to experienced local and international contractors under an EPC contract model. The $445 million project will see the erection of a 62-storey headquarters for the state-owned Ethiopian Electric Power (EEP), positioning the nation at the forefront of architectural ambition on the continent. Initially proposed in 2023, the project was delayed by financial constraints. However, the relaunch of the bidding process for both local and international contractors marks a critical step forward in realizing this transformative vision. Strategically located in the Kirkos district, near Addis Ababa's expanding central business hub, the tower's site further highlights its economic and urban significance. Ethiopia opens bidding process The Ethiopian government recently reopened bidding for the EEP tower, inviting both local and international contractors as part of efforts to revive the $445 million project. The move signals renewed confidence in the country's fiscal outlook. To qualify, contractors must have at least 10 years of experience and have completed three prior projects worth $370 million or more, underscoring the project's scale and complexity. The project will follow an engineering, procurement, and construction (EPC) contract model, with a planned four-year construction timeline. This approach is designed to streamline the entire process, allowing for coordinated planning and efficient execution from design through to completion. The design Beirut-based firm Dar Al-Handasah will design and manage the construction of Ethiopia's revived EEP tower, integrating sustainable practices throughout. Set on a 20,792-square-meter plot, the 62-storey skyscraper will rise to 1,074 feet, surpassing Johannesburg's Leonardo Tower (768 feet) as sub-Saharan Africa's tallest. The design includes three basement levels, a commercial podium, 55 floors of office space with sky gardens, and a rooftop restaurant. With a total floor area of over 2.1 million square feet, the tower will become a landmark hub for business and leisure in Addis Ababa. Once completed, the tower will not only symbolize Ethiopia's infrastructural aspirations but also serve as a central hub for one of the country's most critical sectors—energy. Beyond its architectural significance, the project is anticipated to create thousands of jobs during its construction phase and serve as a catalyst for related urban development.
The Hindu
7 hours ago
- Business
- The Hindu
Shivamogga–Shikaripura–Ranebennur rail project trails as land acquisition hurdles persist
The much-anticipated Shivamogga–Shikaripura–Ranebennur New Broad Gauge (BG) line project, covering a distance of 96 km, continues to face delays primarily due to land acquisition challenges. Sanctioned in the 2019-20 financial year, the project was originally estimated at ₹956 crore. The current anticipated cost has risen to ₹994.47 crore, with funding shared equally between the Indian Railways and the Government of Karnataka. Despite more than four years since approval, only 11.5% physical progress has been achieved, and no section of the line has been commissioned yet. Land acquisition remains the principal bottleneck, with just 560.49 acres (40.5%) of the required 1,382.7 acres handed over so far to railways from the State government. A staggering 822.21 acres (59.5%) is yet to be acquired, with the largest backlog concentrated in the Shikaripura–Ranebennur section, where 815.30 acres out of the required 878.14 acres are still pending. 'Land acquisition is the most pressing issue holding back the project,' said an official from South Western Railway. 'There are complications involving pending payments, documentation gaps, forest land clearance, and local disputes. These need urgent resolution if the project is to stay on track,' the official added. The project has been divided into two phases: Phase I covers the Shivamogga to Shikaripura stretch (46 km), while Phase II will extend from Shikaripura to Ranebennur. In a step forward, an EPC (Engineering, Procurement and Construction) contract for the Koteganguru–Shikaripura stretch (39.38 km) was awarded on February 17, 2023, for ₹530.59 crore. According to officials, to resolve the delays, regular high-level meetings have been held with key stakeholders, including the Chief Secretary of the Infrastructure Development Department (IDD), Deputy Commissioners, and the Minister of Infrastructure. Officials say the project has significant potential to boost connectivity in the region. 'The project is progressing, but land acquisition remains the critical challenge significantly impacting the pace of execution and commissioning,' the official added.
The Star
14 hours ago
- Business
- The Star
Tasmanian landowners and Gamuda co-develop clean energy portfolio
Gamuda partners with Tasmanian landowners to co-develop over 600 MW of wind and solar generation and 600 MW of battery storage in Central Tasmania. PETALING JAYA: Gamuda's wholly-owned Australian subsidiary, Gamuda Holdings Pty Ltd, has signed a landmark agreement with local Tasmanian landowners to co-develop a portfolio of large-scale renewable energy projects in central Tasmania. The portfolio represented a combined capacity of 600 megawatt (MW) of wind and solar energy generation and up to 600MW of battery storage. The portfolio, which includes Weasel Solar Farm and Cellars Hill Wind Farm, has been led by prominent Tasmanian landowners – the Downie Family with development partner Alternate Path. 'The Downie Family has held pastoral land in Tasmania for over 200 years, and Peter Downie is a respected community member and renewable energy advocate. 'As a landowner-led project portfolio, the project planning has been developed in close collaboration with local landowners, community and government to be sensitive to the local environment and deliver local community jobs and benefits, including energy rebates to households within a 12km radius of the portfolio,' said Gamuda in a statement. It will take an equity stake in the portfolio to secure development rights for the current and future projects and deliver them under sole-source engineering, procurement and construction (EPC) contracts. This will set the company up with a pipeline of energy construction work through to 2029. The agreement is subject to foreign investment review board's approval. 'Central to its equity investment in the portfolio, Gamuda is committed to continue the landowner-led principles of the portfolio which will be delivered in partnership with the Downie Family and Alternate Path. Gamuda has been increasing its capacity and capability in the energy sector over the last 18 months to leverage Australia's clean energy transition. The company's strategy has been to invest in 'shovel ready' solar and wind projects while also selectively bidding for EPC contracts in solar, wind, pumped hydro and transmission projects. The company is engaged under early contractor involvement agreements for Alinta Energy's Oven Mountain pumped hydro energy project in New South Wales and Copenhagen Infrastructure Partner's Capricornia energy hub in Queensland. Gamuda's chief strategy and growth officer Jarred Hardman said the Central Tasmania portfolio perfectly fits Gamuda's energy strategy to become a leading end-to-end renewable energy developer, builder, and owner of energy assets to accelerate Australia's clean energy future. 'This deal represents Gamuda's first significant investment in renewable energy development in Australia. 'This builds upon our ongoing success of Goulburn River solar farm and Boulder Creek wind farm in Australia since 2024 where we are delivering a US$4.5bil pipeline, and is supported by our energy experience across a range of projects internationally.' Subject to further planning and development processes and approvals, construction of Weasel solar farm is estimated to commence in financial year 2027 (FY27) and Cellars Hill Wind Farm in FY28.
Business Standard
15 hours ago
- Business
- Business Standard
RITES gains after securing major orders from African Railways and Indian Railways
RITES rallied 6.16% to Rs 296.40 after the company announced that it has secured two orders, one from an international entity and another through a domestic joint venture. The company received a purchase order from African Rail Company for the supply and commissioning of two fully overhauled Cape Gauge ALCO diesel-electric locomotives. These units are set to be deployed in Zimbabwe, Mozambique, and Botswana. Valued at $3.6 million (CIF), the order includes warranty support and deployment of a technical team. It is expected to be completed within nine months. In a separate agreement, RITES, in partnership with Aryan, got a Letter of Acceptance (LoA) from South Western Railway for redeveloping Tumakuru Railway Station. The Engineering, Procurement, and Construction (EPC) contract covers civil works, signaling and telecommunications, and general electrical services. The order is valued at Rs 37.81 crore, excluding GST, and must be finished within 540 days from the start date. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held a 72.20% stake in the company. The company's consolidated net profit rose 5.24% to Rs 132.71 crore despite a 4.32% decline in revenue to Rs 615.43 crore in Q4 FY25 as compared with Q4 FY24.
Daily Record
a day ago
- Business
- Daily Record
Amey relocates to Maxim Park in Motherwell
Previously based at Precision House, the first-ever speculative office building in Eurocentral, Amey will move into a new 11,627 sq. ft office. Amey, one of the UK's leading transport infrastructure and complex facilities engineers, has relocated to Maxim Park in Motherwell. Previously based at Precision House, the first-ever speculative office building in Eurocentral, Amey will move into a new 11,627 sq. ft office. This relocation strengthens Amey's operations and reinforces its commitment to "modern, high-quality workspaces designed to meet evolving business needs". The new Maxim Park 2 office features a contemporary fit-out to enhance collaboration and efficiency for Amey's teams. Aligned with Amey's sustainability goals, the space is built with energy efficiency in mind, featuring LED lighting and achieving an impressive EPC rating of A (score of seven). This not only reduces environmental impact but also optimizes operational workflow. Serving as Amey's Scotland hub, the new space will support critical improvements across Scotland's road and rail infrastructure. This move is driven by the company's expansion and significant growth across its Scottish operations, reflecting rising demand for its expertise in sustainable infrastructure solutions. Richard Egan, business director at Amey, said: "Our relocation to Maxim Park marks an exciting new chapter for Amey in Scotland. "This move reflects our commitment to delivering high-quality infrastructure solutions while supporting our growing operations across the region. "Beyond its strategic location and modern facilities, Maxim Park provides a comfortable, collaborative, and sustainable workspace that enables our team to work more efficiently and creatively. Investing in a high-quality environment ensures our people have the best resources to continue driving improvements across Scotland's critical road and rail networks." Caroline Baillie, director of park services at Maxim Park, added: "Maxim is currently 70 per cent let, bucking the trend and reflecting strong demand for high-quality space in between Glasgow and Edinburgh. "A high occupancy rate indicates a thriving business environment and sustained interest from a diverse range of tenants. "It's great that Amey has chosen to relocate in Maxim joining other corporate firms and growing occupiers. "With only 30 per cent of space remaining available, Maxim Park presents a prime opportunity for new occupants to join a vibrant and dynamic business community. "The strong uptake also underscores our strategic location, modern amenities and services, and our leasing terms." Andy Cunningham of MC2 said: "Maxim 2 has launched on a strong footing following this significant letting to Amey and building momentum across the site. "With good occupancy already achieved and 70 per cent of the space let, Maxim 2 is seeing strong interest from a range of prospective tenants. "This early success highlights the appeal of the location, high-quality facilities, and the confidence businesses have in joining this vibrant community." BNP Paribas Real Estate acted for Amey and MC2 acted for Maxim Park in the deal. And did you know Lanarkshire Live had its own app? Download yours for free here.
