The Hindu Business Line : Srei Infrastructure bags Rs 3,000-cr road projects

Road to growth
To work on fee-based project consultancy too
SPVs for projects in process of being set up
Biggest project in Tamil Nadu, worth Rs 650 cr

Kolkata , June 13

Srei Infrastructure Finance Ltd, in partnership with large construction companies located in different parts of India - such as AP-based Madhucon Projects Ltd, Rajasthan-based Sadbhav Engineering, Tamil Nadu-based KMC Construction and Maharashtra-based Atlanta Ltd - has recently bagged numerous NHAI/annuity road projects in different parts of the country, worth a total of Rs 3,000 crore.

Srei would be working on both fee-based project consultancy as well as raising of financial resources covering both debt and equity.

Speaking to Business Line today, Mr Hemant Kanoria, Managing Director, said that Srei's partnership with its customers would get further strengthened through these large projects.

"Moving forward, we would increase our full services to the infrastructure projects resulting in higher yield on our investments, besides the fee-based income generated from advisory services."

Srei is now able to take larger stake in the projects directly through various debt/equity/quasi-equity instruments, he added.

Mr Sunil Kanoria, Director, said that these build-operate-transfer (BOT) road construction projects would be completed over the next 18-36 months.

The SPVs for the different projects with the respective partners are in the process of being set up, and financial closure should be achieved within 2-3 months.

According to him, the biggest of these projects is the Rs 650-crore Madurai-Tuticorin project in Tamil Nadu, in partnership with the Hyderabad-based Madhucon Projects Ltd.

The other projects are: Bharatpur-Mahua in Rajasthan, Nagpur-Kondhali in Maharashtra, Thrissur-Angamali in Kerala, Lakhnadon in Madhya Pradesh, and Karur-Dindigul in Tamil Nadu.

Srei, having strategically positioned itself in the Indian infrastructure development space through project participation and equipment financing, now intends to utilise its strategic relationships with the construction companies on a pan-Indian basis, he said.

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