Even as the central government has taken various steps such as passing an ordinance to simplify land acquisition for infrastructure projects, a meaningful pick-up in order flows, such as in the power sector, is at least a year away, believes engineering firm Thermax.
Even as the central government has taken various steps such as passing an ordinance to simplify land acquisition for infrastructure projects, a meaningful pick-up in order flows, such as in the power sector, is at least a year away, believes engineering firm Thermax.
In an interview with CNBC-TV18, managing director MS Unnikrishnan said that key government infrastructure projects such as the Delhi Mumbai Industrial Corridor and Dedicated Freight Corridor were struggling with land issues.
Speaking about the company's joint venture with Babcock-Wilcox, Unnikrishnan said it would remained strained going forward and added he expects breakeven only five years from now.
Below is the transcript of MS Unnikrishnan's interview with Anuj Singhal and Ekta Batra on CNBC-TV18.
Ekta: Since the last time we spoke, there have been many announcements on coal block auctions, GST, ordinance on land acquisition etc, do you think that the recent announcements are enough to spur investments in capex or will the ordinance status of these acts put at risk an overall industry sentiment according to you?
A: These are moves in the right direction. It is picky that the government has to resort to an ordinance route to pass very ordinary policy changes that is the state of the politics in the country. However, I would certainly respect the government -- the finance minister and the prime minister for having taken the bold step to move through an ordinance this changes, which they know fully well that they will not be able to pass through an independent session of Rajya Sabha, they have to have a combined session of the parliament called to get this through in the next six months period of time.
So these are not only bold moves, the way the move is taken is even bolder. Will that spur investment? My suggestion is these are indicators and pointers towards the revival because there are various other factors, which you will have to be sitting in when the investment cycle is going to be restarting but I would say these are in the right direction.
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