IVRCL aims order book of 20-25% from overseas mkt

IVRCL Infrastructures & Projects Ltd, a city-based infra company, is bullish on getting foreign projects and aiming to build an order book of 20 to 25 per cent from overseas market, a top company official said today.

The company said it bagged has three projects worth approximately Rs 1,975 crore, two from Kingdom of Saudi Arabia and one from Nepal, marking its entry into the international projects.

IVRCL bagged two water transmission projects worth Rs 1800 crore in Saudi Arabia and a hydro-electrical project worth Rs 175 crore in Nepal.
    
"The company is hoping to get one more similar project from Saudi Arabia worth Rs 800 to Rs 900 core," E Sudhir Reddy chairman IVRCL said.
    
Reddy said he looks at IVRCL's entry into the international projects initially through its core strength area, water sector and subsequently into other sectors.
    
"With this entry, the company has plans to build an order book of over 20-25 per cent from overseas projects, besides targeting diversification into new regions," he said.
    
"We are hoping to get one more water project worth Rs 800 to Rs 900 crore in Saudi Arabia soon," Reddy told PTI, adding currently they are looking at 10 more oversees projects in different parts of the world.

The company has been awarded a contract for construction of main civil works for Rahughat Hydroelectric Project, a 32 MW hydro electric power project in Nepal.
    
The Centre has provided the line of credit facility through EXIM Bank for the project.
    
The completion period is 42 months.
    
The water projects in Saudi are to be completed in 36 months, IVRCL said.