Speaking to The Financial Express on the lawns of CII summit on infrastructure, Nayak said, "We are integrating both the divisions to become the largest engineering and construction conglomerate in the country which will enable us to compete in the global markets in a big way."

"We will maintain the identity, brand equity and emblem of ECC since this division continues to be our cash cow by contributing 50 per cent to our total revenue," Nayak said adding "we want to be the most cost-effective company with world-class technology."

He said, "As per the Boston Consulting Group report, in certain areas, like cement, information technology, we want to maintain separate identity by listing them in markets. However, we want to de-emphasis on other divisions such as ECC."

"We have set a turnover target of Rs 20,000 crore to be achieved over a period of five years of which we want to generate Rs 4,000-5,000 crore revenue through overseas markets," Nayak disclosed.

To start with in a big way, the company has bagged two EPC contracts for power projects worth close to Rs 500 crore from the private parties in Sri Lanka and Oman, he said. However, he refused to disclose the names of the companies and financial details of the contract. He said the size of the power project in Sri Lanka is below 200 mw and the Oman project is below 100 mw. "We will begin the work shortly and expect to complete both the projects in 18 months to two years' time," he said.