Ramky starts commercial operations of road project

The project was awarded to the joint venture of Ramky Infrastructure and IL&FS Transportation Networks Limited

Hyderabad-based Ramky Infrastructure Limited  informed bourses on Friday that commercial operations (tolling activities) had commenced effective March 11 at the four laning of Narketpally - Addanki - Medarametla Road (SH-2) in  Andhra Pradesh.

The project was awarded to the joint venture of Ramky Infrastructure and IL&FS Transportation Networks Limited in the ratio of 50:50 by the Andhra Pradesh Road Development Corporation. The project is on a toll basis with a concession period of 24 years (including two and a half years of construction period).

On the other hand, Ramky is looking towards sale of some of its road assets.  In a communique to the BSE last month,  the company stated its board had discussed the possibilities of easing the liquidity concerns and had advised to explore the avenues for the sale of operational road assets.

For the quarter ending December 2013, Ramky reported a net loss of Rs 133.31 crore on a turnover of Rs 572.26 crore. The company reportedly has a consolidated debt of around Rs 2,100 crore.