Press Trust Of India / New Delhi/ Mumbai March 28, 2006
Hindustan construction company Ltd has received approval from the Jammu and Kashmir government for executing a Rs 4,312.5 crore hydro project.
The company formed a consortium with Norway-based Spas and Turkey's Ozaltin for executing the 1200-Mw Sawalkote hydro project on an EPC (engineering procurement and commissioning) basis.
HCC's share in the consortium is Rs 1,940.63 crore. The project would be executed in seven and a half years, HCC informed the Bombay Stock Exchange.
Earlier this month, the company had said it would raise $100 million from overseas markets through the issue of global depository receipts (GDRs) or other financial instruments convertible into equity shares in one or more tranches.
HCC gets J&K govt nod for hydro project
Press Trust Of India / New Delhi/ Mumbai Mar 28, 2006, 22:49 IST
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