| HCC plans to tap the opportunities in public-private partnerships for India's infrastructure.
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| Chairman and Managing Director of Hindustan Construction Company (HCC) Ajit Gulabchand spoke, on the sidelines of the India Economic Summit on Tuesday, about HCC's plan to float a wholly-owned infrastructure subsidiary to bid for public-private partnership (PPP) projects including airports.
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| “We will soon float a 100 per cent subsidiary to bid for PPP projects and will also bid for developing airports. We are in talks with foreign firms,” said Gulabchand. He added that the company's proposed infrastructure arm would be called HCC infra.
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| Explaining the financing options, Gulabchand said, “All this would require lot of money. Initially, we will bring in the money. We will look at an IPO at a later stage".
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| HCC is expecting to close fiscal 2008 with a turnover of over Rs 3,000 crore, while its order book is expected to cross Rs 12,000 crore, an increase from last year's Rs 9,300 crore.
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| The CMD informed that HCC seeks to become an integrated infrastructure company with a foray in hydel power and ports apart from airport.
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| Talking about the HCC's Lavasa project, which is yet to yield revenues, Gulabchand said, “We had a very good soft launch of the project”.
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| The company expects the three sectors — real estate, infrastructure and construction services — to be its growth drivers. Acquiring a land bank of 2,000 acres in regions like Mumbai Metropolitan region and Pune is also on cards for HCC. |
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