Vishvaraj Infrastructure to raise $100 mn for expansion

Vishvaraj Infrastructure on Saturday said it plans to raise $100 million (about Rs 660 crore) to boost expansion plans in water supply, sewerage treatment and road construction projects.

The firm will utilise the funds for the upcoming smart city projects, AMRUT projects, hybrid annuity road projects and to expand its business, it said in a statement.

It has been short-listed for a water supply contract in Rajasthan and is in the process of bidding for several other city water and sewerage facilities, it added.

"As the government encourages the development of Smart Cities, tenders for water supply and sewerage treatment and urban solid waste will come up and Vishvaraj will bid for these tenders showcasing what they have achieved with the Nagpur project," the company said.

The by-products of sewerage treatment, apart from water, can be used to make biofuels, which can be used for running trucks, it added.

The company has expertise in urban water supply and sewerage treatment plants.

It has been implementing one of the major integrated water supply and sewerage treatment project for Nagpur Municipal Corporation under public, private partnership model, Vishvaraj Infrastructure said.

Besides providing 24 hours safe drinking water to people in Nagpur municipal limits, including slum dwellers, the sewerage treatment plant proposes to supply treated water to NTPC power project near Nagpur, it added.