UK firms, NCCL team up on infrastructure projects
KVVV Charya
HYDERABAD, December 29: Nagarjuna Construction Company Ltd (NCCL) has entered into two separate agreements with UK-based infrastructure companies, Bovis International and Scott Wilson Kirk Patrik to bid for major infrastructure projects in the country, particularly construction of expressways and pipeline projects.The Rs 150-crore Hyderabad-based construction company is tipped to bag the Rs 113-crore Pune-Mumbai expressway. With a gestation of two years, the project will be executed along with NCCL's new partners, the company's executive director AGK Raju told The Financial Express .It has also formed a consortium with the two companies and has bid for the Bangalore Metro Drinking Water Project which seeks to bring Cauvery waters to solve the garden city's drinking water problem. Apart from this the company has also bid for other highway and power transmission line projects worth Rs 220 crore in Maharashtra and Andhra Pradesh, Raju said."The new agreements will provide NCCL access to the technical
and project implementation expertise to execute international quality works," Raju stressed. Apart from highways and transmission lines, the company will now consolidate its strengths in laying pipelines for petroleum products, drinking water and sewerage systems also, he elaborated. In addition NCCL has also identified development of minor ports as one of the focus areas to be pursued over the next few years and will be bidding for such projects in Andhra Pradesh and Gujarat when they are advertised, the senior company official said. Keeping all these proposed activities in view, the company had proposed to raise funds to the tune of Rs 21 crore through a preferential issue of Rs 10 crore and 1:1 rights issue at a premium of Rs 5 per share amounting to a total of Rs 11 crore. The shareholders approved the proposal at an extraordinary general meeting this morning.
Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.
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