Unity Infra up by 5 per cent on Mid-East, S Africa deals

MUMBAI: Civil engineering firm Unity Infraprojects Ltd is scouting for infrastructure building contracts in the Middle East, South Africa and Libya, while foraying into power and railways back home, a top official said on Friday.

The firm, which does not bid for projects under $11 million, would follow this strategy for foreign contracts also.

Shares of Unity Infraprojects Ltd rose nearly 5 percent as sentiment was lifted on report that the company was scouting for infrastructure building contracts abroad and foray into power and railways in the country.

At 11.30 a.m., the stock was up 4.35 percent to Rs 63.60.

While the political unrest in North Africa and the Middle East has stalled projects of many Indian firms, analysts expect new projects to come in as situation normalises.

The firm is also adding two new verticals - power and railways - and is looking for contracts in thermal and hydro power and bidding for various railway projects.