KMC plans to expand

October 10, 2011

Warning: Undefined variable $thumb in /var/www/web/indiantollways.com/wp-content/plugins/digg-digg/include/dd-class.php on line 887

KOCHI: Hyderabad-based KMC Constructions Ltd, has announced today that the company had finalised plans for a public float to mobilise fund for its expansion-cum-diversification projects in solar power generation and BOT projects in railways.

The company now has 10 BOT road projects in hand. This includes three annuity and seven toll ways with an aggregate order book of Rs. 9,000 crore.

“The Company had investments of Rs. 825 crore from 3i, SNC Lavalin including Rs. 175 crore from IDFC, Blue River Capital and Sequoia Capital. We are looking at IPO to part divest the company stake and offer exit route to some of the investors,” said M Gautham Reddy, managing director of KMC Constructions Ltd.

The company closed last financial year with revenues of Rs. 1,080 crore. As part of the company’s efforts to meet its manpower requirement, KMC has set up a training division which helps groom youth to take up jobs in the construction sector.

Source: ibnlive.in.com