C&C Constructions to raise Rs 450 cr to fund highways projects

NEW DELHI: Infrastructure firm C&C Constructions on Sunday said it plans to raise $100 million (about Rs 450 crore) by December, mainly to fund highways projects.

"Our target is to take road projects worth Rs 5,000 crore on BOT (build, operate and transfer) basis. For it we are looking at raising at least $100 million in the next six months to one year," C&C Constructions chairman GS Johar said.

Currently the company has about Rs 2,500 crore BOT road projects at hand besides schemes worth Rs 1,000 crore in the pipeline, he said.

"We are qualified for bids for projects worth another Rs 10,000 crore and look at raising the funds," Johar added.

"The fund raising would be partly debt and partly equity," Johar said stating the company is still to decide on the finer details of the fund-raising plans.

The firm focuses on infrastructure construction segment including highways, airports, telecom, and power transmission.

It has completed 29 projects across India and Afghanistan, with aggregate contract value of over Rs 1,200 crore for National Highways Authority of India, Airports Authority of India, Afghanistan government etc.