GMR Infra may infuse Rs 3,000 cr to part fund projects

Hyderabad: GMR Infrastructure may pump in Rs 3,000 crore equity investments to part fund it's road and power projects in the next two years, according to a senior official of GMR Group.
The investments will be made into three road and four power projects, the official said.
"The company will have to invest around Rs 2,800 crore as its equity contribution for the four power projects, including 768 Mw project at Vemagiri with an investment of Rs 3,250 crore, 600 Mw Emco project with Rs 3,480 crore, 1,400 Mw project at Kamalanga in Orissa of Rs 6,460 crore and 1,370Mw project in Chattisgarh with an estimated investment of Rs 8,290 crore," the official said.
The three road projects required Rs 650 crore of equity investment and the company has already invested around Rs 450 crore. The Group recently raised funds from QIP and private equity and is expecting $150 million of private equity funds by June-end.
The Group received around $200 million on recently concluded divesting of InterGen stake and got another $200 million of private equity for aviation business recently.
31/05/11 Press Trust of India/Business Standard

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Categories: Airports Jun 2011