The Hindu : Business : Ashoka Buildcon to undertake large projects

Online edition of India's National Newspaper
Friday, Mar 21, 2008
ePaper | Mobile/PDA Version

Business

Business

Ashoka Buildcon to undertake large projects

Corporate Reporter

Has projects worth Rs. 1,500 crore
Plans IPO to meet funding needs

CHENNAI: Ashoka Buildcon, specialised in executing road projects on a BOT (build operate and transfer) basis with its headquarters in Nashik, is planning to undertake large projects in the road infrastructure sector.

Addressing presspersons here on Thursday, S. P. Londhe, Director, said the company had interest in 21 roads and bridges totalling 2060 km of lanes in Maharashtra, Madhya Pradesh and Chhattisgarh on a BOT basis. Out of these 16 were under operation and five under construction.

The company had built an international quality model road — the East Coast Road from Chennai to Pondicherry in 2000. It was executing projects either in its own or through subsidiaries or joint ventures, Mr. Londhe said.

The engineering procurement and construction (EPC) division with its subsidiaries and predecessor entities had constructed 42 roads and bridges and built over 5.4 million sq. ft. of commercial, industrial and institutional projects. The order book stood at Rs. 1,500 crore.

The company was also producing ready-mix concrete with 10 RMC plants having a capacity of 540 cubic metres per hour.

The company has also set up toll collection contract division and has entered into agreements to collect tolls on roads and bridges owned and constructed by third parties.

To meet the future funding requirements to the tune of Rs. 230 crore, the company plans to come out with a public issue through book-building process.

Printer friendly page
Send this article to Friends by E-Mail

Business