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AFCONS INFRASTRUCTURE LIMITED, a pioneer and leader in infrastructure is one of India's major construction companies involved in executing of large and complex civil engineering projects, both in India and abroad. AFCONS has been involved in construction of marine works, bridges, roads, general civil engineering works including industrial structures, nuclear power projects, tunneling, pipelines and special foundation works such as piling, diaphragm wall, prestressed anchors, drilling and grouting and other ground improvement works.
AFCONS began its operation as a civil construction firm way back in 1959. The Company was then a partnership between RODIO FOUNDATION ENGINEERING LIMITED, SWITZERLAND AND HAZARAT AND COMPANY, INDIA.
The Company started with construction of specialized foundation activities, such as pile foundations, diaphragm walls, geotechnical investigations, drilling, grouting and entered into Marine Construction from 1963.
AFCONS began spreading its wings across the globe in the year 1971, striking success with major assignment in the Middle East. AFCONS has completed projects in Iraq, Saudi Arabia, Oman, Qatar, Yemen, Ethiopia , Sri Lanka and Nepal. The Projects executed included jetties, breakwater, cofferdams, bridges, special foundations such as drilling & grouting, ground anchors, micropiling and soil exploration works.
In 1976, consequent to the exit of Rodio Foundation Engineers and Hazarat & Co. , renamed and registered as ASIA FOUNDATIONS AND CONSTRUCTION LIMITED (AFCONS), wherein from a partnership it became a closely held private limited Company with equity shares distributed to the employees.
In 1977 it became a deemed public limited Company.
In 1986, AFCONS entered road construction, when large Road Projects funded by World Bank/Asian Development Bank were put to Tender.
In 1993 Shipping Credit and Investment Corporation of India (SCICI) became a 20% shareholder, which shareholding was transferred to ICICI Ltd. pursuant to the merger of SCICI with ICICI Ltd.
In 1997, the Company was renamed as AFCONS INFRASTRUCTURE LIMITED due to its field of operation being closely related to infrastructure development and it became a full fleged public limited Company. In 1998 ICICI Ltd. subscribed to further shares in the Company, which made ICICI Ltd. the single largest shareholder with 47.37 % equity stake in the Company.
The Philosophy of AFCONS has always been to contribute to national objective and to achieve self-reliance in the field of specialized civil construction and heavy engineering work. AFCONS has also built up a dedicated and deeply committed cadre of engineering and technicians in several disciplines. The growth achieved by AFCONS over the years in a fitting testimony to the success of this philosophy.
AFCONS has a state-of-the-art workshop at Nagpur for designing, fabricating and maintaining custom-made construction equipments to meet the requirements of specific projects. This has facilitated growth by in-house development of technology, apart from substantial saving of foreign exchange.
In 2000 Shapoorji Pallonji Group acquired 53.96 % shareholding in our Company, where 47.37% was acquired from ICICI Ltd. and 6.59 % was acquired from the Hazarat Family.
AFCONS is presently a part of Shapoorji Pallonji Group, which has an experience of over 140 years in the field of construction. Under its new ownership and improved financial strength, AFCONS has a great opportunity to emerge as one of India's pioneer Infrastructure Companies.