KKR and Ontario Teachers’ to Invest ₹5,500 Crore in Road Infrastructure Trust (InvIT)

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January 8, 2025

KKR and Ontario Teachers’ to Invest ₹5,500 Crore in Road Infrastructure Trust (InvIT)

Global private equity giant KKR and Canadian pension fund Ontario Teachers’ Pension Plan (Ontario Teachers’) have committed a combined ₹5,500 crore to Highways Infrastructure Trust (HIT), a trust that owns and operates key highways in India. This investment will play a crucial role in funding recent acquisitions, including 12 road assets from PNC Infratech, marking a significant move in India’s infrastructure sector.

KKR’s investment arm, Nebula Asia Holdings II Pte. Ltd., will contribute ₹3,756 crore, while Ontario Teachers’ will invest ₹1,695 crore. As the sponsor of HIT, KKR is deeply involved in the trust’s expansion, with Ontario Teachers’ holding a notable stake as a significant shareholder. The funds raised will be directed towards the acquisition of additional road assets by HIT. Notably, the trust recently entered into an agreement to acquire 12 road assets from PNC Infratech and its subsidiary PNC Infra Holdings for an enterprise value of ₹9,006 crore. This move is part of KKR’s broader strategy in India’s road sector. In 2021, KKR made its entry by acquiring Highway Concessions One (HC1) and seven highway assets spanning 487 kilometers from Global Infrastructure Partners (GIP). Additionally, KKR acquired the Navayuga Udupi Tollway for ₹924 crore. In 2022, KKR established the Highways Infrastructure Trust (HIT), which has now expanded to manage 15 road assets, covering 3,580 lane kilometers across nine states in India.

The investment from KKR and Ontario Teachers’ marks another milestone in HIT’s growth trajectory and highlights the increasing interest of global investors in India’s rapidly expanding road infrastructure sector. With these acquisitions, HIT continues to solidify its position as a key player in the Indian toll road and highway sector. This deal comes amid rising infrastructure investments in India, where other international players, including Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), are also eyeing opportunities to invest in the country’s growing road sector. CDPQ is currently in discussions to raise capital for its infrastructure trust, Maple Infrastructure Trust, indicating the ongoing global interest in India’s transportation infrastructure.

WABAG Chennai Office Receives IGBC Net Zero Water Certification from CII-IGBC

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January 8, 2025

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WABAG Chennai Office Receives IGBC Net Zero Water Certification from CII-IGBC

WABAG’s Chennai office has recently been awarded the IGBC Net Zero Water certification by the Confederation of Indian Industry’s Indian Green Building Council (CII-IGBC). This significant milestone marks the office’s commitment to sustainability and water conservation, as it successfully aligns with the Net Zero Water concept.

The IGBC Net Zero Water certification is a part of the Council’s efforts to encourage organizations to reduce water consumption to zero by adopting advanced water management strategies. Achieving this certification demonstrates WABAG’s proactive approach to implementing responsible water usage and conservation practices, ensuring that its Chennai office reuses and recycles water sustainably. The process involves ensuring that the water consumed on-site is balanced by the amount of water that is reused and replenished. The certification is an acknowledgment of the company’s efforts in reducing dependence on external water sources and enhancing on-site water recycling through techniques such as rainwater harvesting, water treatment, and reuse.

This achievement also reflects WABAG’s larger sustainability goals, as the company continues to spearhead innovations in water treatment and management. Their commitment to sustainable practices not only reduces operational costs but also contributes to the company’s vision of promoting environmental stewardship. By receiving the IGBC Net Zero Water certification, WABAG’s Chennai office joins a select group of establishments committed to achieving environmental excellence in water conservation. This certification underscores WABAG’s leadership in corporate sustainability and serves as a model for other organizations aiming to reduce their environmental impact. This recognition is part of a growing movement toward sustainability in the corporate sector, as businesses increasingly adopt green building certifications and environmental practices in their operations to mitigate the effects of climate change and support India’s water conservation efforts.

Kolkata Residential Market Sees 16% Surge in 2024 Amidst Economic Optimism

Kolkata

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January 8, 2025

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Kolkata Residential Market Sees 16% Surge in 2024 Amidst Economic Optimism

Kolkata’s residential real estate market has experienced a significant upturn in 2024, with a 16% year-on-year growth in sales, according to a report by Knight Frank India. The city recorded a total of 17,389 units sold, marking it as one of the top-performing years for the sector since 2010. This surge comes as a positive reflection of the sustained demand within Kolkata’s property market, defying earlier expectations that policy changes might dampen buyer sentiment. Notably, despite the government’s decision to discontinue some key incentives, including stamp duty rebates and circle rate reductions in July 2024, the market showed resilience, driven by both homebuyers’ confidence and investor interest.

The increase in sales also corresponds to a 6% rise in average residential prices, which now stand at Rs 3,815 per sq ft. This price appreciation indicates a steady yet robust growth pattern in the city’s residential property landscape. The sustained demand for residential real estate can be attributed to several factors, including the city’s economic stability, improved infrastructure, and government measures such as RERA, which continues to inspire confidence among prospective homebuyers. Furthermore, low mortgage rates have played a crucial role in encouraging sales, even as the sector adjusted to the end of certain incentives.

Despite the challenging macroeconomic landscape, Kolkata’s real estate market is evidently resilient. The city has not only maintained but strengthened its appeal to both local and out-of-state buyers, who are increasingly looking for affordable yet high-quality housing options. Areas with better connectivity and infrastructure, such as South Kolkata and pockets near the IT hubs, continue to be prime locations for residential projects. The 16% surge signifies a growing trend of homeownership aspirations within the city’s population, reflecting the shift towards permanent housing solutions and greater investment in real estate.

Office Space Market Shows Moderate Growth with 7% Rental Increase

While the residential market thrives, Kolkata’s office space segment has shown a more nuanced performance in 2024. Although transaction volumes in the office space market declined slightly by 1%, the average transaction rent in the city increased by a substantial 7%, reaching Rs 41 per sq ft per month. This uptick in rental prices signals growing demand for quality office spaces, even in the face of fluctuating business sentiment and global economic uncertainties.

Interestingly, Kolkata’s office market is seeing a slow but steady recovery. The demand for office space is primarily driven by sectors such as IT, BFSI (Banking, Financial Services, and Insurance), and healthcare, which have continued to expand within the city. With businesses increasingly looking for well-located and high-quality office buildings, Kolkata is positioning itself as an emerging hub for both established companies and start-ups. New office completions in 2024 amounted to 0.3 million sq ft, underscoring the city’s capacity to absorb fresh supply despite a conservative outlook on office space demand nationally.

This sector’s relatively slower recovery reflects a broader trend seen across major Indian cities, where office space demand is starting to stabilise after the post-pandemic upheaval. However, the city’s performance, particularly in terms of higher rental rates, suggests that Kolkata remains an attractive market for occupiers, especially those seeking cost-effective yet modern office spaces.

Sustainability: The Rising Trend in Kolkata’s Real Estate

As the real estate sector continues to evolve in Kolkata, sustainability has emerged as a key factor driving buyer and investor preferences. Eco-conscious developments are no longer a niche but are becoming mainstream in both residential and office segments. Many new residential projects are being designed with green building standards, incorporating energy-efficient features, water conservation systems, and sustainable construction materials. This aligns with the growing awareness about climate change and environmental responsibility.

From a sustainability perspective, Kolkata’s real estate market is beginning to reflect global trends, with developments focusing on eco-friendly architecture and smart city initiatives. In residential projects, developers are increasingly incorporating features like solar panels, rainwater harvesting, and waste segregation systems, which contribute not only to energy efficiency but also to long-term cost savings for homeowners. Similarly, commercial developments in the office space market are integrating LEED-certified features, making them more attractive to corporate occupiers who prioritise green certifications as part of their sustainability goals.

Civic Challenges and Urban Development

While the city’s real estate sector shows promise, it must also grapple with a few pressing urban challenges. The infrastructure gap, particularly in the eastern and northern parts of Kolkata, remains a critical issue. These regions require further development in terms of road connectivity, public transport, and basic amenities to match the city’s growth trajectory. However, initiatives like the Kolkata Metro expansion and the development of new transport corridors are expected to bridge some of these gaps, driving further interest in these areas.

As Kolkata continues its urban transformation, smart city projects and a more integrated approach to infrastructure development will be vital in ensuring sustainable growth. Improving the quality of life for its residents through better amenities, green spaces, and affordable housing options will help in the long-term stability of the market, making Kolkata not just a city for investors but a livable and sustainable urban hub for generations to come.

South Hyderabad sees a decline in real estate prices

Hyderabad

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January 8, 2025

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South Hyderabad sees a decline in real estate prices

The Hyderabad real estate market in 2024 presents a tale of contrasting fortunes. While the overall city saw a moderate 8% increase in residential property prices, significant regional disparities have emerged, especially between the southern and northern/eastern parts of the city. South Hyderabad, traditionally a preferred choice for homebuyers due to its developing infrastructure and proximity to key commercial hubs, witnessed a dip in residential prices. Conversely, parts of eastern and northern Hyderabad have emerged as hotspots, with certain areas showing impressive year-on-year (YoY) growth.

One of the standout performers is LB Nagar, located in eastern Hyderabad, where property prices surged by 11% over the course of the year. This area, increasingly sought after for its accessibility and ongoing infrastructure developments, has attracted a substantial number of homebuyers and investors. Alongside LB Nagar, Kompally, another prominent locality in the northern part of the city, recorded a 10% rise in residential property prices, further reinforcing the trend that buyers are looking towards emerging neighbourhoods rather than traditional residential hubs.

The overall average residential price in Hyderabad has reached Rs 5,974 per sq ft. However, the uneven growth across regions highlights the growing divergence in buyer preferences. Areas like LB Nagar and Kompally have been driving this upward trajectory, with well-planned urban developments and improved connectivity making them desirable for both end-users and investors. On the other hand, South Hyderabad’s dip in prices could be attributed to various factors, including slower infrastructure development in certain pockets and changing buyer preferences.

In terms of price brackets, residential properties in the Rs 10-20 million range have continued to dominate the market in 2024. This segment, catering to middle and upper-middle-class buyers, has witnessed steady demand, particularly in more developed and connected areas. As urbanisation continues, buyers are gravitating towards properties that offer better amenities, robust transport networks, and access to key social infrastructure, which are abundant in the emerging parts of the city.

Sustainability and the Real Estate Trend

Sustainability continues to play a crucial role in shaping the preferences of modern homebuyers. As the real estate market diversifies, buyers are now placing a premium on areas that not only offer better infrastructure but also reflect sustainability in their development models. The rise of eco-friendly projects, especially in growing areas such as LB Nagar and Kompally, speaks volumes about the industry’s shift towards sustainability. Projects that incorporate green building certifications, renewable energy solutions, water conservation systems, and waste management are increasingly in demand.

South Hyderabad, on the other hand, while experiencing a price dip, could benefit from focusing on sustainability to regain traction. For instance, adopting green building codes and investing in improving urban green spaces can enhance the area’s appeal, particularly for eco-conscious buyers looking for an environmentally responsible living space. These steps, coupled with smart urban planning, could bring the south side of Hyderabad back into the spotlight, driving demand and stabilising prices.

From a civic standpoint, urban development in Hyderabad is beginning to focus on multi-modal transport systems and affordable housing solutions. These urban issues play a significant role in shaping residential price trends. For instance, areas with better access to public transportation and improved road infrastructure have naturally seen price increases, whereas regions lacking in these areas are lagging behind. Sustainable urban development is key to ensuring that the city remains livable and affordable for future generations, while also addressing the pressing challenges posed by rapid urbanisation.

As we look ahead, Hyderabad’s residential market is poised for continued growth, but with an increasing focus on balanced development. The success of certain areas in 2024 can serve as a model for other regions to follow, ensuring that all parts of the city benefit from both economic growth and sustainability.

Hyundai Explores $7 Billion Steel Mill Investment in Louisiana to Support U.S. Operations

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January 8, 2025

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Hyundai Explores $7 Billion Steel Mill Investment in Louisiana to Support U.S. Operations

Hyundai Motor Group is exploring the possibility of building its first overseas steel mill in Louisiana, a strategic move designed to safeguard the company from potential protectionist policies in the United States under the incoming Biden administration. The automaker, which includes Hyundai Steel Co. and Kia Corp., is considering an investment of approximately 10 trillion won ($7 billion) in the facility, which would support its growing electric vehicle (EV) production lines in the U.S.

According to industry sources, Hyundai has been considering Texas, Georgia, and Louisiana for the location of its new steel mill, with Louisiana’s New Orleans emerging as the likely site. If plans proceed, Hyundai could break ground on the plant as early as 2026, with an estimated completion in 2029. The new steel mill would produce steel sheets to supply Hyundai’s assembly lines in Alabama and Kia’s plant in Georgia, as well as its electric vehicle-focused Metaplant in Georgia. Given the anticipated production capacity, the U.S. plant would churn out several million tons of steel sheets annually, contributing to Hyundai’s overall steel output of 18.69 million tons, including 5 million tons of automotive steel plates.

One of the driving factors behind the plant’s location in the U.S. is the potential to bypass high tariffs and reduce risks associated with trade policies that could impact Hyundai’s operations. U.S. protectionist measures, including a proposed 10-20% tariff on steel imports, could raise costs for South Korean steelmakers. The plant would also benefit Hyundai’s operations by lowering logistics costs and improving the efficiency of vehicle production. Hyundai Steel’s U.S. plant is expected to use direct reduction technology, which is a cleaner steelmaking method that emits less carbon dioxide compared to traditional blast furnace processes. This would likely make Hyundai more competitive in the U.S. market and may also help the company gain approval for its production in the country, aligning with the U.S.’s environmental goals.

The new steel mill also offers a significant opportunity for Hyundai to enhance its vertical integration, cutting reliance on imported steel and strengthening its position in the global automotive industry. Currently, Hyundai Steel ships 17% of its output to foreign automakers, with plans to increase this to 40%, as part of its goal to become one of the top three automotive steel manufacturers in the world. Hyundai’s expansion into steel production in the U.S. highlights the growing importance of local supply chains in the global automotive industry, especially in light of U.S. trade protectionism and rising demand for electric vehicles. With this move, Hyundai aims to secure its place in the future of automotive manufacturing while navigating complex geopolitical and economic challenges.

Nippon Steel Defends $15 Billion U.S. Steel Acquisition Despite Biden’s Block

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January 8, 2025

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Nippon Steel Defends $15 Billion U.S. Steel Acquisition Despite Biden’s Block

Nippon Steel has firmly reiterated its commitment to acquiring U.S. Steel, despite President Joe Biden’s decision to block the $15 billion deal. Chief Executive Eiji Hashimoto emphasized on Tuesday that the acquisition would be mutually beneficial for both the United States and Japan, rejecting concerns raised by the Biden administration regarding national security risks.

“There is no reason or need to give up,” Hashimoto stated, asserting that the deal would strengthen the U.S. steel industry and create economic benefits, including jobs and an estimated $1 billion in economic impact. He stressed that the companies’ legal challenge against Biden’s decision was a critical step, with Nippon Steel and U.S. Steel filing lawsuits in federal courts on Monday. The lawsuits argue that the Biden administration’s block is in violation of the rule of law and dismisses the deal’s potential to enhance U.S. national security. Biden’s administration blocked the acquisition last week, citing concerns that foreign ownership could undermine U.S. steel production, which is critical to national interests. In his statement, Biden stressed that U.S. steelmakers should continue to lead in manufacturing steel to support America’s national security.

However, proponents of the deal argue that Japan, as a key U.S. ally and major investor in American businesses, poses no threat to national security. They contend that the merger would create a strong competitor in the global steel market, where China’s dominance is growing. By combining resources, Nippon Steel and U.S. Steel would also bolster American manufacturing, they argue. Despite Biden’s opposition, both companies have maintained their united stance. Hashimoto reaffirmed that Nippon Steel and U.S. Steel were aligned in their pursuit of the acquisition, which they view as vital for the future of the steel industry in both nations. He also expressed hope that the legal process would result in a favorable outcome.

In addition to the legal efforts, the Japanese government, including Prime Minister Shigeru Ishiba, has voiced support for the deal, dismissing concerns over security risks. While the Biden administration’s opposition remains a significant hurdle, it remains unclear whether the incoming president, Donald Trump, will offer a different stance on the deal. The Committee on Foreign Investment in the United States (CFIUS), which reviewed the deal earlier, failed to reach a consensus on whether it posed a national security threat. Fitch Group’s CreditSights analyzed the situation, suggesting that the opposition to the deal is largely political, and that U.S. Steel could continue to thrive independently, bolstered by recent steel price increases.

Iraq’s Largest Cement Factory Resumes Operations After Environmental Overhaul

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January 8, 2025

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Iraq’s Largest Cement Factory Resumes Operations After Environmental Overhaul

Iraq’s largest cement factory, located in Kirkuk, has resumed operations following a significant environmental upgrade. The 45-year-old plant, which had been shut down in mid-November due to non-compliance with environmental regulations, is now back in operation after a comprehensive overhaul aimed at reducing pollution and improving sustainability standards.

The factory’s management made considerable improvements, including the installation of a new dust control system and pollution monitoring equipment. These upgrades followed an environmental inspection by the Kirkuk Environment Directorate, which confirmed that the plant had successfully implemented measures to meet sustainable pollutant standards. The improvements to the dust filtration systems were key to ensuring the factory’s compliance with modern environmental regulations. Ali Ezzedine Khurshid, the Kirkuk Environmental Director, emphasized that these efforts were crucial in helping reduce air pollutants and improve the overall environmental quality in the region. The factory had previously been fined IQD 450 million ($343,351) for failing to meet environmental standards. Additionally, local residents, particularly those in Lailan, had protested against the factory’s pollution, citing adverse health effects and damage to local vegetation.

The factory’s reopening follows several years of underinvestment in Iraq’s industrial infrastructure, stemming from the impact of the US invasion, the subsequent civil war, and a legacy of limited investment under the regime of Saddam Hussein. The Kirkuk cement factory was initially established in 1980 by a Japanese company and had been a leading producer of high-quality cement in Iraq. The factory’s maintenance also included the enhancement of dust treatment units, and air pollutant (TSP) measurements were taken to ensure the plant’s industrial activities meet the required environmental criteria. This is part of a broader effort by the Iraqi government to address long-standing environmental challenges in the industrial sector. In addition to the environmental upgrades, Iraq’s Oil Pipelines Company had restarted oil pipeline supplies to the Kirkuk Cement Plant in August 2024, after more than three years of inactivity. This rehabilitation work, including the restoration of the pipeline, plays a crucial role in supporting the factory’s operations and long-term sustainability.

MV Trishul Completes Maiden Voyage, Transports 1,500 Tonnes of Cement on Indo-Bangladesh Route

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January 8, 2025

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MV Trishul Completes Maiden Voyage, Transports 1,500 Tonnes of Cement on Indo-Bangladesh Route

On 6^th January, MV Trishul completed its maiden voyage, marking a significant achievement for India’s inland waterways. The vessel, accompanied by two dumb barges, Ajay and Dikshu, successfully transported 1,500 tonnes of cement from Kolkata to Guwahati’s Pandu, utilizing the Indo-Bangladesh Protocol Route (IBPR). This milestone is part of the government’s push to promote sustainable, economical, and efficient logistics solutions under the Jalvahak cargo policy.

The Jalvahak scheme is designed to incentivize the movement of long-haul cargo via National Waterways 1 (River Ganga), National Waterways 2 (River Brahmaputra), and National Waterways 16 (River Barak). The initiative aims to reduce congestion on roads and railways, offering a more environmentally friendly and cost-effective mode of transport. The fixed-day scheduled sailing service operates between Kolkata, Patna, Varanasi, and Pandu, ensuring reliable and timely cargo deliveries. This journey from Kolkata to Pandu represents a major development in India’s inland waterway infrastructure, offering businesses a dependable and sustainable alternative for transporting goods.

Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, hailed the completion of MV Trishul’s maiden voyage as a key milestone for India’s inland waterways. He emphasized that this achievement highlights the vast potential of waterways as a sustainable and efficient transportation mode, helping reduce congestion on traditional transport routes. “The government is committed to transforming logistics with sustainable solutions. The Jalvahak scheme offers a cost-effective, reliable, and eco-friendly transportation option,” said Sonowal. The scheme’s focus on long-haul cargo movement aligns with the government’s broader vision of fostering an efficient and developed logistics network.

The joint effort of the Inland Waterways Authority of India (IWAI) and Inland and Coastal Shipping Limited (ICSL) — a subsidiary of the Shipping Corporation of India Limited (SCIL) — has been crucial in bringing this vision to life. With the launch of regular scheduled freight services, businesses are now encouraged to use national waterways for timely and sustainable cargo delivery. This initiative aligns with Prime Minister Narendra Modi’s vision of transforming India’s logistics sector and contributing to the country’s development as a global economic power.

Chinese Cement Makers Expand Operations in Africa to Meet Growing Demand

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January 8, 2025

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Chinese Cement Makers Expand Operations in Africa to Meet Growing Demand

The African cement market is witnessing a surge in growth driven by rapid urbanization, increasing infrastructure development, and rising construction activity. As a result, the continent’s cement production landscape is being reshaped with the entry of new players, particularly from China, where a stagnant property market and stringent environmental regulations have driven cement makers to seek new opportunities abroad.

In 2023, Chinese companies, led by Huaxin, made notable investments in Africa’s cement sector, launching nine new cement projects. This trend continued into 2024, with five more projects added. These investments highlight the growing interest from Chinese firms to tap into Africa’s infrastructure boom. Aly-Khan Satchu, CEO of the East African Financial Portal, pointed out that the African continent faces a massive infrastructure deficit, which, combined with its young and growing population, presents significant growth potential. “The Chinese are looking at the medium term and saying to themselves, this is potentially another China — not so monolithic, but similar in terms of growth,” Satchu explained.

Huaxin, now the second-largest cement producer in sub-Saharan Africa, currently operates 10 cement plants with a production capacity of around 18 million tonnes per year. Dangote Cement, the regional leader, holds a much larger capacity at 52 million tonnes annually. Despite this, the influx of Chinese companies in the sector signals increasing competition and a shift in Africa’s cement landscape. Demand for cement is expected to remain strong in key markets such as Nigeria, South Africa, Kenya, and Ghana, where infrastructure development continues to drive growth. Industry experts predict that companies like Dangote, which understands the African market well, will continue expanding their footprint, but the entry of Chinese firms could herald the start of a larger shift, as more Chinese players and potentially other BRICS countries, such as India and Brazil, look to invest in the region’s booming market.

However, the cement industry is also associated with significant environmental concerns due to pollution caused by production processes. As the market expands, experts are urging African governments to prioritize environmental sustainability and implement policies that balance economic growth with the development of local industries. China’s increasing investments in Africa’s cement market not only reflect the continent’s growing importance as a key player in global infrastructure development but also highlight the ongoing strategic pivot of Chinese companies seeking new frontiers for expansion.

Cemex Secures $13 Million Funding for Lower-Emission Vehicle Replacements in Texas

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January 8, 2025

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Cemex Secures $13 Million Funding for Lower-Emission Vehicle Replacements in Texas

Cemex has made significant strides in its commitment to decarbonizing its operations with the recent acquisition of substantial funding to deploy lower-emission vehicles across its U.S. footprint. As part of this effort, Cemex has participated in several state and federal sustainability programs, including the Texas Emissions Reduction Plan (TERP), which has awarded the company approximately US$13 million to replace conventional vehicles with eco-friendly alternatives.

The funding from the TERP program will enable Cemex to obtain four new lower-emission locomotives and two haul trucks, which will be deployed at the company’s cement and aggregate sites in New Braunfels and Katy, Texas. These vehicles will replace older, polluting equipment, significantly reducing emissions in line with the program’s objectives. The first three of the new locomotives and both haul trucks entered service in late 2023 and mid-2024. This initiative represents a critical part of Cemex’s strategy to reduce its carbon footprint and enhance its sustainability practices. By decommissioning the older vehicles, Cemex complies with the program’s core requirement of directly replacing polluting vehicles.

Looking ahead, Cemex’s sustainability efforts continue to grow. The company has been awarded a US$2 million grant through the U.S. Environmental Protection Agency’s (EPA) Diesel Emissions Reduction Act (DERA) program, which will support the deployment of two additional lower-emission locomotives in Jacksonville and Miami by the summer of 2025. Jaime Muguiro, Cemex U.S. President, emphasized the importance of these initiatives, stating, “Through these state and federal programs, significant strides toward advancing responsible business practices are more attainable. Our new lower-emission vehicles play a key role in the development of building materials for roads, schools, hospitals, and more, while also being pivotal to our CO2 reduction roadmap.”

Cemex’s commitment to sustainability extends beyond Texas. In Victorville, California, the company has already deployed multiple lower-emission locomotives, and in Southern California, nearly 40 low-emission natural gas trucks were added to the fleet in 2022, replacing older diesel-powered vehicles. Additionally, Cemex received US$2.5 million in 2023 from the EPA’s Targeted Airshed Grants (TAG) program to support further emissions reduction efforts. These efforts are part of Cemex’s broader sustainability program, Future in Action, which aims for net-zero CO2 emissions by 2050. Through initiatives like these, Cemex continues to make significant progress toward achieving its decarbonization goals while contributing to a more sustainable and responsible future for the cement and construction industries.

Office Space Market Shows Moderate Growth with 7% Rental Increase

Sustainability: The Rising Trend in Kolkata’s Real Estate

Civic Challenges and Urban Development

Sustainability and the Real Estate Trend

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