Construction Projects Worth Rs 59 Lakh Cr Impacted Due To Corona Virus: KPMG
New Delhi: Construction projects worth Rs 59 lakh crore are under various stages of development in the country and almost all of them have been severely impacted by corona virus and the lockdown, according to a report by KPMG.
Even when the lockdown is lifted, labour and capital both will be in short supply. Hence a framework must be put in plave to prioritise construction projects over a 30-45 days window.
The owners of the construction and real estate developers must optimise engineering layouts with a clear focus on target value design. They must make use of off-site modular construction methodologies so as to optimise time and resources while enabling a controlled working environment for labours.
"In a time-bound manner, project owners should chalk out a plan to minimise the impact of COVID-19 and ensure viability and sustenance of projects going forward in a changed environment," said KPMG
The owners of the projects must also revisit the management processes to remove inefficiencies. This would help them in meeting the timelines better.
The report by KPMG says India's target of becoming a USD 5 trillion economy rests on the successful and timely completion of critical infrastructure under the National Infrastructure Plan.