Vishvaraj Infra to raise USD 100mn to fund expansion

Water management solutions provider Vishvaraj Infrastructure plans to raise USD 100 million to fuel its expansion plans in the water supply, sewerage treatment and road construction businesses.
"VIL will raise USD 100 million in the next few months and utilise the fund for the upcoming smart city and AMRUT projects as well as for taking up hybrid annuity road projects and to expand its business," the company said in a statement issued here today.
The move to raise the amount will be completed over the next 3 to 6 months, its Chairman and Managing Director Arun Lakhani said.
"We have been implementing one of the major integrated water supply and sewer-age treatment project for Nagpur Municipal Corporation (NMC) under public, private partnership (PPP) model. As the government encourages the development of smart cities, tenders for water supply and sewerage treatment and urban solid waste will come up and we will bid for these projects," he said.