Ocean Lifespaces India has bagged the Design & Build EPC (Engineering, procurement, and construction) contract to complete 6 lakh sq ft of industrial structure for Dubai-based port and logistics Group, DP World in Chennai.
The announcement comes close on the heels of Ocean securing civil work contract from ZF Rane Automotive India (a joint venture of German-based automotive technology supplier, ZF Group with Rane Group) to develop one lakh sq ft for its new plant at Tiruchirapalli (Trichy), Tamil Nadu.
During the April-June quarter of the current financial year (FY23), Ocean Lifespaces was awarded Design & Build EPC contracts for two auditorium projects having a seating capacity of 20,000 ( India’’s biggest Auditorium) and 6,000 seaters respectively, in Chennai.
Similarly, its contract winning streak came to the limelight last year when the company won a contract from Indian Oil Corporation (IOCL) 600 Cr Contract to design & build the world’s second-largest lube plant. To date, the contracting major has completed more than 30 mn sq ft of interiors for corporates, over 10 mn sq ft of civil construction work, and developed over 3 mn sq ft of real estate properties.
Commenting on the bagging of the new contract, SK Peter, Founder & CEO of Ocean Lifespaces India said, “With the world limping back to normalcy, and employees coming back to the office, even under the hybrid mode, we are seeing an uptick in the absorption of office space. Moreover, demand for commercial space is also on an upswing. As the industry is at the cusp of a multi-year growth cycle, bagging the new contract from DP World to construct 6 lakh sq ft of industrial area in Chennai augurs well for our future growth.” “We are very delighted to be part of DP World’s crucial expansion plan in India. I would like to thank the management of DP World for having trust in our capabilities. We are fully committed to delivering excellence in a tight deadline.”