In today’s construction news, discover that John Basharyar believed he had everything needed for a profitable company. From affordable gas costs to individualized attention, he also claims that his position on Honolulu Street and East Charleston wasn’t that bad. Meanwhile, Spanish builder ACS (ACS.MC) posted a nine-month net profit of 576 million euros ($616.2 million) on Monday, a 20% rise from last year and topping market expectations, as it expanded projects in the United States and benefited from toll-road unit Abertis. Finally, Delhi, home to 20 million people, is the most polluted capital in the world. Poor air quality has been plaguing it since the beginning of this month, as it does every year, in spite of government promises to address the issue. Construction bans are not a novel idea, as they aim to control dust and minimize car emissions.
Update on US 95 Construction Progress
John Basharyar believed he had everything for commercial success.
Good gas pricing and personal service. He believes his East Charleston at Honolulu Street location was good too.
“I’m off the freeway, both sides,” he adds. “I pretty much have all my locals.”
He didn’t expect a substantial redesign of I-515 (U.S. 95) near Charleston.
“This month is exactly 12 months since they started,” adds Basharyar. “Exactly one year.”
He claims fuel sales at his Arco convenience shop have decreased from roughly 7,000 to 2,000 gallons per day.
“Everything stops when construction begins,” he says. People don’t want to wait 30-40 minutes behind the light. They say, “John, I love getting gas here, but I can’t waste my time.”
The redesign adds one lane per direction on U.S. 95 between Eastern and Charleston to improve traffic flow.
Below, widening Charleston Boulevard, improving sidewalks, lighting, and freeway ramps.
A $75 million renovation expected to finish next summer or fall.
“We’re reaching some significant milestones this week, where we are shifting lanes,” says Nevada Department of Transportation Justin Hopkins. New lanes are being built on I-515’s north side. Sound walls retreated. more Stewart, Pecos, and Mojave bridges were erected to accommodate two more lanes.”
Hopkins said the work is needed to restore outdated infrastructure and manage valley growth, one of several I-515 corridor projects.
Another, from Sunset to Wyoming, should finish about the same time as Charleston.
“We’ve been putting in better sound walls, better intelligent traffic systems,” Hopkins explains. “It should really help improve the quality of life for drivers and neighbors around that area.”
Basharyar is just hanging on as drivers become more impatient.
Experiencing I-515/U.S. 95 growth difficulties.
He explains, “We lost a lot of revenue.” “We’re still paying the same bills; costs went up, everything has gone up, but the income has dropped.”
Net Profit at ACS Increased by 20% as US Sales Increased
Original Source: ACS reports 20% rise in net profit as sales grow in US
On Monday, Spanish builder ACS (ACS.MC) reported a nine-month net profit of 576 million euros ($616.2 million), up 20% from last year and beyond market expectations as it extended US projects and benefited from Abertis.
LSEG projections showed analysts anticipated net profit to rise 15% to 552.67 million euros from 480 million euros in 2022. They predicted a small earnings decline due to U.S. and Australian dollar exchange rates.
The corporation reported 7.6% sales growth to 26.3 billion euros.
Following a Monday article by local business journal Expansion, ACS Group CEO Juan Santamaria stated the company is considering selling its services unit Clece, which operates mostly in Spain, due to strong construction results.
“It is true…. We are looking at different possibilities and market options,” Santamaria told analysts after results were revealed. “We are in the early stages. … We have not made a final decision,” said.
ACS’s construction companies earned 309 million euros in January–September, up 21.5% from 2022. Abertis was the main contributor to the concessions unit’s 173 million euros, up 35% from last year.
Services division Clece earned 22 million euros, up 4.6% from the year before.
The Spanish builder works mostly in the U.S., Australia, Spain, and Canada. ACS shares rose 1.6% to 33.78 euros in Madrid on Monday.
Abertis, in which ACS owns 50%, won a Puerto Rico tender to run and maintain four new toll roads for 40 years last month.
ACS reported that motorway traffic exceeded pre-pandemic levels in practically all Abertis countries.
The chairman of Hochtief (HOTG.DE), in which ACS owns 73%, said last week the business was winning energy transition, mobility, and digitalization contracts, increasing sales and profit.
After winning projects to build new airport terminals, stadiums, and highways, mostly in the U.S., ACS’s North American construction activities amounted for 66% of overall construction income, up 7% from 2022.
Group sales in Asia-Pacific made nearly 23% of construction revenue.
Construction Ban to Fight Pollution Compounds Misery for Delhi Labourers
To feed his family of seven, Totaram Maurya heaves bricks and cement sacks on New Delhi construction sites. However, a prohibition on building activity to reduce city smog has kept him home for more than 10 days without income.
“If I’m going to get sick from air pollution and die, I’d rather die while working since I have mouths to feed,” Maurya remarked from his bamboo house on the Yamuna riverbanks amid a thick haze.
Delhi, with 20 million people, is the world’s dirtiest capital. Poor air quality has plagued it since early this month, as it does every year despite government promises.
Construction bans to reduce dust and vehicle exhaust are not new.
As officials strive to clean up small particles in the air that can reach almost 20 times the WHO acceptable limit, thousands of workers like Maurya have lost their jobs.
The 45-year-old Maurya makes 500 rupees ($6) day normally.
“It’s hard to lift heavy materials, especially when there’s pollution, because I cough when smoke gets in my lungs and my eyes burn,” said the family’s lone income earner.
Maurya stated he could only afford a cloth over his face.
Winter air pollution in Delhi is worse because the wind lowers and the air cools, trapping pollutants from automobiles, industry, and farmers in bread-basket states burning stubble to prepare for fresh planting.
In search of solutions, city officials limit building and heavy vehicle entry. Also, schools are closed.
Water trucks have been brought out to clear smoke and dust, and this year they will try to generate rain for the first time.
The trial’s leader, Manindra Agrawal, a scientist at the Indian Institute of Technology in Kanpur, southeast of Delhi, expects cloud cover next week and hopes cloud seeding will cause rain.
Late last week, rain briefly relieved pollution, but on Sunday, Diwali revelers broke a firecracker ban, causing pollution again.
On Monday, Swiss organization IQAir classified the air quality index (AQI) as “hazardous” at 420.
The WHO says air pollution kills 4.2 million people annually.
When the air is terrible, officials suggest limiting outside activity, but workers like Maurya can’t afford to stay home or become sick.
“If I fall sick, everything will fall apart,” said Pramod Kumar, 23, a limestone worker at Delhi building sites who complained of not working for days.
Maurya and Kumar claimed it’s hard to find farm employment after construction.
Construction is India’s second-largest employer after agriculture, employing 70 million people, including unskilled workers who move to cities for better lifestyles.
The Delhi government has compensated construction workers during restrictions, but not this year.
Bans affect more than laborers. So are property developers.
“Despite meeting all dust control and mitigation requirements, the struggle persists,” stated a Parsvnath Developers Ltd. spokeswoman.
Summary of today’s construction news
To sum it up, As one of several projects along the I-515 corridor, Hopkins claims the work is essential to managing the valley’s expansion and restoring the deteriorating infrastructure. Another, which is currently running from Sunset to Wyoming, ought to be completed almost concurrently with the Charleston segment.
Meanwhile, after ACS secured contracts to construct new airport terminals, stadiums, and highways, mostly in the United States, its construction operations in North America contributed 66% of the company’s total construction income. Sales increased by 7% from 2022 to this period. In the Asia-Pacific area, group sales made up twenty-three percent of total construction revenue.
Finally, although it hasn’t done so this year, the Delhi government has occasionally provided construction workers with compensation when bans are enforced. Not just laborers are subject to bans. And so are the real estate developers. “The struggle continues even after meeting all the compliance requirements for dust control and mitigation measures,” a Parsvnath Developers Ltd. official stated.