Green shoots of infra rebound emerge
Experts feel there is definitely more activity on the ground now compared to a year ago. Public sector enterprises have started spending on projects and are also ordering equipment Amid signs of a revival in the industrial cycle, the capex plans of large companies such as Reliance Industries are creating traction in the infra space. The company’s petcoke gasification project will see investments of $4 billion over the next three years. The company is also setting up a petrochemical cracker for an investment of $8 billion. The project management firms for these have been finalised and ground work has started in Jamnagar. Analysts say the project site could require at least 1,000 cranes and companies such as Sanghvi Movers could finally see business improving two quarters down the line when work commences.