IPO Synopsis
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Archive for March, 2008
Simpark hi-tech underground car parking system for Kolkata
Monday, March 24th, 2008In the limelight
Kolkata’s first underground automated car parking system was now acting as a showpiece attracting municipal corporations from around the country.
The Municipal Corporation of Delhi has already signed an agreement with Simpark for such projects at more than one station.
Kolkata April 15 Simpark Infrastructure (P) Ltd, a wholly owned subsidiary of Simplex Projects Ltd, braving several odds has just completed an underground modern automated car parking system at one of the most congested areas of the city - the New Market complex, a relic of the Raj to which all Kolkatans are emotionally attached.
A trip to the Market for pre-Christmas shopping is a must for both young and old.
The engineering marvel 30 ft below the ground has been achieved without disturbing the red brick-stoned heritage New Market structure facing the southern façade, including the fabulous clock tower to the left.
Initially planned as a multi-level car park above ground, the BOT project, facing stiff resistance from the market shop establishments, was shifted below with a shopping mall at the minus one level and the actual gantry system car parking at the minus two level. Sheet piling over a period of 18 months was done to safeguard the old buildings facing the market complex.
Top down construction method has been adopted (no cannibalisation of the top surface), and the gantry system can be accessed through five entry points (gates) for cars to be placed on pallets, which will take them down to the designated parking slot. Fully computerised, there will be just one person each at the entry point to operate the system, and car recovery is said to take just 90 seconds.
Showpiece
Cited as Kolkata’s first underground automated car parking system, the project, commissioned by the Kolkata Municipal Corporation (KMC), according to Mr B.K. Mundhra, Chairman and Managing Director of Simplex Projects, was now acting as a showpiece attracting municipal corporations from around the country. He said the Municipal Corporation of Delhi has already signed an agreement with Simpark for such projects at more than one stations.
Talking to Business Line on the various challenges faced during the four-year construction period of the Rs 34-crore BOT project (with a 20-year concession period) by the Simpark engineering team, Mr Mundhra said the company has been able to just about break-even.
“The gain for us is the immense satisfaction of having completed such a difficult project in a small stretch (just 40,000 sq ft), capable of accommodating some 280 cars.”
He said the KMC would get 5 per cent of the parking fees, which is projected to be around Rs 2.5 lakh annually. The main earning for KMC will be through secondary basic rent from shop owners in the plaza.
This is expected to yield annually around Rs 10 lakh for KMC while providing hassle-free parking for Kolkatans. Some 150 shop owners are said to have booked space at the plaza.
Asked on Simpark’s future plans, Mr Mundhra said the company was planning to enter the semi-automatic private “retail parking” segment with the “Intelligent Cubicle Sliding” system, for which it has entered into a strategic tie-up with a Korean company.
He said orders for prototypes of the compact system, which can be installed easily at building sites to fulfil private parking needs, have already been placed.
A base level model, for holding some 8-10 cars, may cost anything between Rs 1.75 lakh and Rs 2.5 lakh.
KMDA signs agreement for multi-level car park
Saturday, March 15th, 2008
Kolkata Metropolitan Development Authority, on March 6, 2008, signed a concession agreement with city-based Simplex Projects Ltd for a multi-level car parking project at Salt Lake in Kolkata. The car park, to come up within 18 months, will be amongst the largest in the capital city.
Speaking to Projectmonitor, Kalyan Roy, Director, Socio-Economy, KMDA, said that the project would come up on BOT basis under a 30-year concession agreement with the authority. Discussing details, Roy said that KMDA would not have an equity stake in the project or any share in the revenues generated by the project. The concessionaire will pay a fee of around Rs 25 crore to KMDA for conceding the project. Roy added that the six-storey car park with two basement floors would accommodate around 600 vehicles. The project coming up on around one acre of land is expected to cost Rs 50 crore.
To make the project commercially viable, KMDA has allowed the developer to use an equivalent of 15 per cent of the built-up area for commercial development. Accordingly, Simplex Projects Ltd is likely to enter into a memorandum of understanding with the Future (Pantaloon) Group to lease a commercial complex in the vicinity.
Roy also added that this was the first time that a concessionaire has been selected for a car park in Kolkata using the competitive bidding route. Kolkata Municipal Corporation is also pursuing a couple of car park projects on BOT basis, he observed.
Contact: Simplex Projects Ltd, 12/1, Nellie Sengupta Sarani, Kolkata, West Bengal 700087. Tel: 033-22527231/32; Fax: 033-22528013; E-mail: general@simplexprojects.com
Simplex Projects - Award of Contract
Monday, March 10th, 2008Simplex Projects Ltd has informed BSE that the Company has been awarded the contract for Development and Management of Multi-level Car Parking Project at Salt Lake, Kolkata under
Built Operate and Transfer (BOT) basis under joint venture with Kolkata Metropolitan
Development Authority.
The project consists of Multi-level Car Parking for about 600 cars and a commercial complex and is to be completed within a time span of 18 months. The Company is signing the
Concession Agreement on March 06, 2008 in respect of the above project with the Kolkata
Metropolitan Development Authority.
The Company is also entering into a Memorandum of Understanding with the Future Group in respect of the leasing of the Commercial Complex.
Kolkata development authority, realtors sign agreements
Thursday, March 6th, 2008The Kolkata Metropolitan Development Authority (KMDA) Thursday signed three Memoranda of Understanding (MoUs) worth Rs.8 billion with the city’s leading real estate developers for various urban projects.
State Minister for Urban Development Ashok Bhattacharya said: “In addition to Rs.8 billion, the price of the land was Rs.3.6 billion, half of which was paid by the developers in advance. The other half would be paid at a later date.”
State Minister for Urban Development Ashok Bhattacharya said: “In addition to Rs.8 billion, the price of the land was Rs.3.6 billion, half of which was paid by the developers in advance. The other half would be paid at a later date.”
Raghav Mundra, managing director of Simplex Projects Limited, signed the MoU with KMDA Chairman P.R. Bhaviskar for a multi-storeyed car parking facility near City Centre in Salt Lake.
Jugal Khetwat of South City and Sushil Mohta of Merlin Group signed their MoU with the KMDA for a Development and IT Logistics Centre at Sector V in South City.
The third MoU was signed between Pawan Dhoot of the Dhoot Developers Pvt Ltd and the KMDA for development and management of office complex at two sites in Salt Lake.
Bavishkar expressed his happiness at the public-private enterprise in the state and hoped the MoUs would give fillip to the business in future.
Cricketer Sourav Ganguly was present on the occasion.
Simplex Projects - Award of Contract
Wednesday, March 5th, 2008 Simplex Projects Ltd has informed that the Company has been awarded the contract for Development and Management of Multi-level Car Parking Project at Salt Lake, Kolkata under
Built Operate and Transfer (BOT) basis under joint venture with Kolkata Metropolitan
Development Authority.
The project consists of Multi-level Car Parking for about 600 cars and a commercial complex and is to be completed within a time span of 18 months. The Company is signing the
Concession Agreement on March 06, 2008 in respect of the above project with the Kolkata
Metropolitan Development Authority.
The Company is also entering into a Memorandum of Understanding with the Future Group in respect of the leasing of the Commercial Complex.
Simplex Projects - Award of Contract
Wednesday, March 5th, 2008 Simplex Projects Ltd has informed that the Company has been awarded the contract for Development and Management of Multi-level Car Parking Project at Salt Lake, Kolkata under
Built Operate and Transfer (BOT) basis under joint venture with Kolkata Metropolitan
Development Authority.
The project consists of Multi-level Car Parking for about 600 cars and a commercial complex and is to be completed within a time span of 18 months. The Company is signing the
Concession Agreement on March 06, 2008 in respect of the above project with the Kolkata
Metropolitan Development Authority.
The Company is also entering into a Memorandum of Understanding with the Future Group in respect of the leasing of the Commercial Complex.
