Boom in infrastructure projects seen

Chennai: In the next five-seven years, the construction industry will have infrastructure projects worth around $500 billion in India.

However, the sector will be plagued with shortage of men, material, machinery, management and money (five Ms), according to Mr K.V. Rangaswami, President (Construction) and Member, Board – Larsen & Toubro.

Going by experience, the $500 billion investment may not happen, he said.

However, even 50 per cent of it means there will be projects worth $60-70 billion a year. Today, the combined business done by all the construction companies in India was only $20 billion. Companies need to scale up to four to five times to meet the massive infrastructure projects, which will take place in the next five-six years, he said at the 29th All-India PR conference.