Besides its road division, IVRCL's power, buildings, transportation, water and mining divisions won contracts worth another Rs742.94 crore
Infrastructure major IVRCL today said it has bagged new orders worth Rs2,228.94 crore, including a highway upgrade contract in Arunachal Pradesh from the Road Transport Ministry valued at Rs1,486 crore.
Besides its road division, IVRCL's power, buildings, transportation, water and mining divisions won contracts worth another Rs742.94 crore. The Ministry of Road Transport and Highways has awarded a project for widening of 311 km of trans-Arunachal highways to the IVRCL consortium, the company said.
"The ministry shall provide cash support of Rs1,004 crore to the concessionaire to implement the project," IVRCL said. The order involves construction of 52.60 km of realignments, 49 intersections, two major and 30 minor bridges and 1,707 culverts, it added. The concession period for the project, which will be implemented on a design, build, finance, operate and transfer basis, is 17 years. "The project is being implemented jointly between IVRCL Assets and Holdings Ltd (IVRCL A&H) and Sushee Infra Private Ltd by incorporating an SPV company, wherein IVRCL A&H and IVRCL Ltd will undertake construction work on the proposed road," the company said.
Meanwhile, the company's power division won a Rs108.44 crore project for supply of materials for Haldia Energy Ltd's 400 KV D/C Haldia-Subhashgram transmission line project. Its buildings division won projects worth Rs234.87 crore, including one from GAIL for construction of a raw water and fire water reservoir. In addition, IVRCL's transportation division won contracts worth Rs104.65 crore, the water division bagged projects valued at Rs263.30 crore and the mining division won a Rs31.68 crore project.
In the late afternoon, IVRCL was trading at around Rs38.55 per share on the Bombay Stock Exchange, 5.63% down from the previous close.
Transport Corporation of India is looking at 20% growth in bottomline in this fiscal year
Supply chain and logistics solutions provider Transport Corporation of India (TCI) today said it is eyeing up to 20% growth in revenue this fiscal and is planning to invest Rs100 crore for expansion.
"Our business is growing, and looking at the present scenario we are expecting about 15%-20% growth in revenue in FY12," TCI joint managing director Vineet Agarwal told PTI on the sidelines of the India Retail Forum.
The company is also looking at 20% growth in bottomline in this fiscal year, he added. TCI's consolidated net profit for 2010-11 stood at Rs50.12 crore on a revenue of Rs1,851.26 crore. TCI also plans to invest Rs100 crore to fuel its expansion plans, which includes new trucks, ships, warehouses and hub centres, he said.
"We will use Rs20-Rs25 crore to acquire a ship from Denmark, Rs30-Rs45 crore to buy trucks and Rs30-Rs45 crore to set up hubs," Agarwal said.
The company will increase its warehousing capacity by half-a-million to 1 million sqft this fiscal. It currently has a warehousing facility of 9.5 million sqft, of which 6.5 million sq ft is owned by the firm, he added. TCI is also looking at entering a couple of more countries every year, he said.
Earlier, Agarwal had said, TCI will invest up to Rs300 crore to develop 20 integrated logistics parks, and commercial and residential properties in the next three to four years.
In the late afternoon, TCI was trading at around Rs84.65 per share on the Bombay Stock Exchange, 1.57% down from the previous close.
L&T Hydrocarbon has won an order worth Rs700 crore from the Petroleum Development Oman LLC for setting up a project to treat an average of 3mmscmd of gas
L&T Hydrocarbon has won a project order valued around Rs700 crore (around $150 million) from the Petroleum Development Oman LLC (PDO). The order is for setting up a green field project planned to treat an average of 3mmscmd of gas.
The concept for the Lekhwair Gas Field development project is a single train gas plant in the Lekhwair gas plant for exporting treated gas (CO2 removed and dehydrated gas) to the Government Gas Plant in Yibal and unsterilised condensate and water to the existing Lekhwair Production Station. Lekhwair is located approximately 110 km from the Yibal Government Gas Plant and its associated network.
The project includes main gas treatment plant consisting of gas desulfurisation and gas dehydration units with required utilities and supporting facilities as well as flow lines well pad piping, remote manifold station, liquid and gas export pipelines.
The order was bagged by L&T Hydrocarbon's Mid & Downstream Business segment against stiff competition from reputed international EPC bidders.