Ahmedabad: The Competition Commission of India (CCI) has given its approval for Adani Infra’s acquisition of a 30.07% stake in PSP Projects Ltd. This move follows a significant portion of PSP Group’s order book being attributed to the Adani Group, which has become the largest contributor to the company’s order value. Ownership of PSP Projects is held through family trusts such as the PSP Family Trust, PPP Family Trust, and SSP Family Trust. Following Adani Infra’s acquisition, the Adani...Read More

Ahmedabad: Ahmedabad-based construction firm PSP Projects Ltd has emerged as the lowest bidder for a project valued at ₹158.61 crore by the Gujarat government, the company announced today. In a filing to the stock exchanges, the company mentioned, "We are pleased to inform that the company has emerged as Lowest (L1) Bidder in the Project "Civil, MEP & Finishing work for Development of Street” for Gandhinagar Municipal Corporation at Gandhinagar, Gujarat worth INR 158.61 Crores (excl. GS...Read More

Surat: The Gujarat High Court has stayed the lower court order against Surat Diamond Bourse(SDB). Construction giant PSP company had moved a local court against SDB over claims of Rs. 538 crore pending payment under Arbitration and Conciliation Act section-9. The local court had given relief to PSP company and asked SDB to deposit Rs. 100 crore bank guarantee. However SDB management moved the Gujarat High Court against lower court order, following which, the High Court has stayed the lower cou...Read More

AMC: Amdavad Municipal Corporation (AMC) has served show cause notice to leading private construction firm PSP Projects over Rs. 1 crore fine for breach of prescribed Covid-19 pandemic related protocols. PSP Projects had not appointed Corona Coordinator. It had not conducted tests of migrant laborers working for company. Social distancing and mask wearing related rules were not followed in labor colony and construction site. AMC had tested and detected over 100 laborers working with PSP projects...Read More