Government wants to hold winter session in new Parliament building, part of Central Vista project
Government wants to hold winter session in new Parliament building, part of Central Vista project
Tata Projects CEO and Managing Director Vinayak Pai said on Sunday that the main structure of the new Parliament House has been completed and the interior finishing work is now underway.
Tata Projects Limited is constructing the new Parliament House which will have a grand Constitution Hall, a lounge for Members of Parliament, a library, several committee rooms, dining areas and ample parking space to showcase India’s democratic heritage.
“The main structure (of the new Parliament building) is complete. We are now at the stage where we are doing a lot of interior finishing work,” Mr. Pai said. PTI in an interview.
“…it’s one of its kind, so the finish is very well thought out by the architects, buying it and doing all the finishings,” he said.
The government says that the winter session of Parliament will be held in the new building being built under the ambitious Central Vista redevelopment project of the Narendra Modi government.
Responding to a question on how Tata Projects is coping with the challenge of high inflationary pressures, Mr. Pai said that there are certainly challenges that most of the industries are facing as they are heavily dependent on commodities.
“So, one thing that we have to continue to focus on is smart procurement. So, we have long-term contracts on a lot of the bulk material purchases that we do,” Pai said.
Secondly, he said, by now many contracts have matured where purchase agreements have price variation clauses.
“So, it gives us protection, it may not really give us the full nature of growth, but a good part of it comes down to the segments where we get support for it,” Mr. Pai said.
Asked whether the cost of construction has gone up because of the Russia-Ukraine conflict, he said steel prices have gone up, and there are certain items, including special steel, that are getting delayed.
“Oil prices have gone up, we need a lot of mobility within our project site. We use a lot of diesel generators and equipment.
“So, yes, the input cost has gone up to some extent,” he said.
Russia launched its military offensive against Ukraine on 24 February. Western countries, including the US, have imposed major economic and other sanctions after the invasion of Russia.
He said that there is a huge opportunity in the infrastructure sector in India especially in renewable energy.
“In addition to opportunities related to infrastructure, sustainability and green energy, we are seeing something very strong,” Mr. Pai said.