R-Infra developing projects worth Rs 45,000 cr: Ambani

Billionaire businessman Anil Ambani today said his group company Reliance Infrastructure (R-Infra) was developing 27 projects which entails an investment of Rs 45,000 crore ($9 billion).

Noting that as many as 20 projects would be generating revenue in FY12, Ambani said the government's impetus for infrastructure development opens up huge opportunities for the company.

The company has interests in road, metro, cement and, power generation and distribution businesses among others.

Addressing the shareholders here, Reliance Infrastructure Chairman Ambani noted the firm was developing 12 road projects worth Rs 16,500 crore, making the entity the largest private developer of roads in the country.

Out of the 12 projects, four are already generating revenues while seven are expected to start revenue generation within this fiscal.

Ambani pointed out that the company was setting up two cement plants, each having a capacity of 5 million tonne in Maharashtra and Madhya Pradesh.

Shareholders during the meeting held today have approved issue of equity shares to qualified institutional buyers as well as raising money through issue of securities in international markets among others.

In the power transmission segment, Ambani said the company is developing five projects worth Rs 6,600 crore.

R-Infra owns 38% in Reliance Power, the leading private sector power generator.

Ambani said that Mumbai Metro Line I would commence the world class metro services by 2012.

According to him, promoters of R-Infra have converted 226 lakhs warrants at a price of Rs 925 per piece, thereby, increasing the promoter holding to 48%.