C&C Constructions To Invest Rs 1,000 Crore Over Next 2-3 Years (13-Dec-2011)
C&C Constructions is planning to invest about Rs 1,000 crore over the period of next two to three years in power transmission and highway projects. The Gurgaon-based infrastructure company is currently executing five national highway projects, two urban infrastructure projects and one power transmission work.
The infrastructure company is in talks with various institutions to raise about Rs 400-500 crore through private equity. The company has also tied up with banks for Rs 180 crore and will infuse another Rs 100 crore through internal resources. The company has already invested Rs 200 crore in the projects. Once the project gets completed, the company expects a cash flow of Rs 300 crore every year.
Further, the company is also planning to acquire a 70-100 mw hydel power plant in Himachal Pradesh entailing an investment of about Rs 500 crore. The company's current market debt is about Rs 1,000 crore. In 2010-11, the company had a turnover of Rs 1,200 crore out of which 70 % was contributed by the road sector.
The company's order book stands at Rs 5,400 crore of which overseas contracts contribute only 4%. The company is expecting the overseas contract to rise up to 25% in coming years. The company is currently executing works of about Rs 781 crore of the rail freight corridors. C&C Constructions had tied up with Spanish firm Isolux Corsan last year, to jointly bid for projects of more than Rs 500 crore.
C&C Construction is a medium-sized company engaged in Engineering, Procurement and Construction (EPC) services for infrastructure projects in the construction of highways, airport runways, bridges, water & sanitation water sewerage, sanitation and buildings and power transmission in India and Afghanistan.
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