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Road construction firm Patel Infra files for IPO Vadodara-headquartered road construction company Patel Infrastructure Ltd has filed a draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). According to the DRHP, the company has proposed to sell fresh shares worth Rs 400 crore in the IPO. While the valuation is still to be finalised, Patel Infrastucture will dilute roughly 20-22% stake, two people in the know told VCCircle. This will value the firm at Rs 1,800-2,000 crore ($315 million), VCCircle estimates show. If listed, Patel Infrastructure...

UK construction output just fell by the most since 2012 Construction activity fell in the three months to November (Source: Getty) The UK's construction industry showed more weakness in November as output shrank for the sixth quarter in a row in the three months to November, according to official data. Figures published by the Office for National Statistics (ONS) showed output contracted by two per cent in the three months to November, the largest fall since August 2012. However, on a month-on-month basis, output edged up 0.4 per cent between October and November. While work in non-housing, commercial construction and...

Construction wages rise as worker shortage grows After closing down during the last recession, the Tucson Carpenters Union Training Center is now back open. "We need qualified people and the qualified people aren't there," said Kellogg. Like the rest of the nation Tucson is in middle of a construction worker shortage. According to a recent survey by The Associated General Contractors of America, 70% of construction firms are having a hard time finding workers. The problem is even worse in Arizona where 75% of employers reported having problems. "We need to get more young people. I think it's a great avenue...

Construction on 600-space parking garage at San Antonio Zoo to begin this summer After the city's largest ever municipal bond package was approved in May 2017, the zoo received $11.75 million to build a new parking garage at its campus on the city's North Side. Zoo officials said the garage is expected to open in the spring of 2019. Equipped with 600 parking spaces, the new three-story garage will be built on an old lot near Highway 281 and Tuleta Drive. San Antonio Zoo CEO Tim Morrow said in May 2017 he was "thrilled" the bond passed because there is...

Revit Structure vs Advance Steel. What is the best choice for Detailing of Steel Structures? This has been kind of a common question for some time, even today when Advance Steel is considered to be as known of an application as Revit itself, there's still several who are uncertain about Advance Steel role in the world of structural design, since Revit Structure is actually regarded as quite a complete solution already. Perhaps for those already proficient in Revit Structure there's really not much of an argument, as they can probably move around the tools for getting whatever suit their needs....