Construction industry to tap potential of real estate market in Northeast

Guwahati, March 6: A lot of focus is being given to infrastructure development in the northeastern states. This has opened up new market avenues for domestic and intertiol companies.

 Many such companies have shown curiosity to invest during a recently concluded exhibition on construction equipments and technology in Guwahati.

 Be it Guwahati, Imphal, Agartala or Dimapur – the boom in real estate sector and infrastructure development is visible in all major cities across the north-east.

To tap this potential, a large number of real estate developers are making a beeline.

 In an effort to accelerate the growth of infrastructure and make latest technologies accessible, the very first ConMac fair - an exhibition on construction equipments and technology -  was recently organized by Confederation of Indian Industry (CII) at the Maniram Dewan Trade Centre in Guwahati.

 The three-day long fair, which was iugurated by Assam Chief Minister Tarun Gogoi, showcased a variety of modern machineries and equipments essential for the purpose of construction.

 Gogoi on his part said the main motive is to improve the infrastructure.

 “Our whole purpose is to improve the economic condition of the people, how to raise their purchasing power. To raise the purchasing power, we have to improve economic condition. So, turally construction of roads, schools, colleges, bridges, everything is linked to infrastructure,” said Gogoi.

 “I am very happy that CII is taking this initiative and giving a lot of thrust on infrastructure,” he added.

 Sandipan Chakravorty, Chairman, CII, North East Council, said CII considers the eight northeastern states as extremely important as far as infrastructure is required.

 “We have had discussions at the Centre and with different states and everyone without exception has said that infrastructure is our topmost priority,” said Chakravorty.

 “So, the states where infrastructure is the major priority, infrastructure development should also take place in such a way that the best of our equipments are used. That is why we are organizing this trade show so that people get knowledge,” he added.

 Around 50 participants, including top most brands and foreign companies exhibited their latest technologically advanced products including trucks, tyres, earth movers and concrete mixers at the fair.

 The fair provided a platform to exhibitors and various stakeholders of infrastructure related sectors to come together and discuss the market prospects in the region.

 It will benefit contractors, construction companies and engineers in the region to become up-to-date with the latest technology and utilize it in their work.

 Raghupati Bualka, an official at Volvo Machinery, said there is a huge market and added that north-east is full of opportunities in terms of road contracts and bridge contracts.

 “Our excavators are used in excavation of minerals like limestone and coal in Meghalaya and coal in galand. It is used in road projects for excavation of earth. It is used in fisheries and quarries. So, there is a huge opportunity here,” he added.

 A gradual decline in insurgency coupled with pro-active steps of the government to develop infrastructure in the region has resulted in an increase in industrial activities and investment inflow in various sectors. (ANI)