Groundbreaking ceremony for Tritvam, Kochi
Kochi: Tata Realty and Infrastructure (TRIL) is pleased to announce the commencement of the construction of its Tritvam project at Kochi, Kerala. Tritvam is a high-end residential complex at Marine Drive, Kochi. The groundbreaking ceremony for the project took place on June 7, 2012.
TRIF Kochi Projects, the SPV of TRIL, and Leighton, one of the world’s most respected international contractors in India, as Leighton Welspun Contractors have entered into a contract for the construction of Tritvam under the new-age alliance contracting format.
The alliance agreement revolves around the principle of a gain share and pain share. This means that when the actual cost of construction exceeds the prior agreed target cost, all parties in the alliance share the pain and when it is within the target cost, all parties share the gain generated.