Reliance Infra to invest Rs 1,650 cr in FY10

Anil Ambani group company Reliance Infrastructure is likely to invest about Rs 1,650 crore in various projects by the end of 2009-10, a global investment banking major said.

"We estimate the total investment (of Reliance Infrastructure) in the infrastructure projects at the end of financial year 2010 to be Rs 1,650 crore (Rs 73 per share)," Morgan Stanley said.

The various infrastructural projects of the company include developing five road projects in Tamil Nadu and a 66-km connector between Gurgaon and Faridabad.

Of the five road projects, two are done and are expected to commence commercial operations in the June quarter of 2009. The remaining ones are expected to be completed by September 2010.

The 12-km-long Mumbai metro project has achieved financial closure and construction on it is under way. Work on Delhi Metro has started.

Cash and cash equivalents at the end of FY09 were Rs 10,000 crore, of which cash and investment in debt mutual funds was Rs 5,400 crore while the balance of Rs 4,600 crore included inter-corporate deposits and investment in Reliance Infra Projects International.