SPML to form JV for airport, east-west metro corridor projects
Subhas Projects and Marketing Ltd (SPML) will form separate joint ventures with a Thai company to participate in the Indore and Raipur airport modernisation and the East-West Metro corridor in Kolkata.
By PTI |
KOLKATA: Subhas Projects and Marketing Ltd (SPML) will form separate joint ventures with a Thai company to participate in the Indore and Raipur airport modernisation and the East-West Metro corridor in Kolkata.
"We have finalised the tie up with a Thailand-based company CH Karnchang which will partner us with technical and financial support for airport and metro rail projects," SPML Vice-Chairman S C Sethi said here on Tuesday.
Separate SPVs would be created for each project though the share-holding pattern in the SPVs were yet to worked out, he said.
The airports of Raipur and Indore would be modernised by the Airports Authority of India at an estimated cost of Rs 300 crore each. SPML has also participated in the bidding of the first tender of dedicated freight corridor floated for Mugalsarai (UP) and Gajkwaja (Bihar).
The company was very optimistic of being awarded these urban infrastructure projects and was aiming to generate an additional Rs 1,000 crore from such projects by 2012.
Water sector, which was one of the SPML's strengths continued to gain momentum. The company has received contract for managing the water supply for two cities, Bhiwandi and Latur.
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