Ramky Infrastructure Ltd plans to expand presence in West Africa following initial contract being taken up in Gabon where it is developing a special economic zone.

The Chairman of Ramky Infra, Ayodhya Rami Reddy, told shareholders that the company has forayed into West Africa through its subsidiary.

Addressing the company’s 18th AGM, he said, “we are stepping into countries where opportunities have come up and where competitive pressures are low. As a part of the company blueprint to become a multinational, we would gradually increase geographical presence.”

The Chairman said high interest rates, rising inflation, depreciation of Indian currency, coupled with global macroeconomics uncertainties resulted in lower GDP growth this year at 6.5 per cent against 8.4 per cent last year.

The company order book has grown from Rs.10,998 crore last year to Rs 13,702 crore this year.

Of this, roads and highway projects occupy a major share at 43.7 per cent followed by 16.3 per cent in buildings and water, and 16 per cent coming from irrigation followed by industrial and power segments.

In addition, the company has Rs 1,252 crore in pipeline, where it has also been declared as L1 for projects worth Rs 10,345 crore.

rishikumar.vundi@thehindu.co.in

(This article was published on August 17, 2012)
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