Consolidated Construction Consortium Ltd will focus on rate contract-based construction orders rather than large infrastructure projects, according to R Sarabeswar, Chairman & CEO.

Addressing shareholders at the annual general meeting, the Chennai-based company which has gone in for corporate debt restructuring, said it will focus on construction contracts for factories, institutions and other structures, where there is a healthy order flow.

The company had secured significant orders in design-build contracts for metro rail projects, but it has not been a happy experience. CCCL is involved in a legal dispute the Chennai Metro project, Sarabeswar said while declining to elaborate further as the subject was sub judice.

He added some of the significant orders on hand include construction of a corporate office for ONGC and large buildings for medical colleges and hospitals. This is the company’s core area and strength, he said.

CCCL’s Chief Financial Officer TR Seetharaman said the 10-year CDR package cleared by a State Bank of India-led consortium, including Bank of Baroda, IDBI Bank and ICICI Bank, provides a working capital assistance of ₹100 crore and an additional working capital term loan of about ₹200 crore with an 18-month moratorium on interest payments. Interest rates are also down 3.25 per cent to a little over 11 per cent. The company will be selling its non-core assets, particularly land, under the CDR package.

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