HYDERABAD: Hyderabad-based construction and infrastructure major Maytas Infra is lining up investments of $3 billion (approximately Rs 12,000 crore) on build-operatetransfer (BOT) projects in the country.
Like its peers, Maytas is also aggressively bidding for these projects to lift revenues and garner higher returns from equity. Infrastructure spends are expected to top $320 billion over the next five years and many firms have floated special purpose vehicles which tie-up with strategic or financial partners to execute BOT projects.
“Maytas Infra raised Rs 327 crore from its initial public offering in October 2007. And half this money will be spent on various BOT projects”, Mohan Gurunath, the company’s strategic head told ET. It has already bagged projects valued at Rs 9,000 crore and hopes to secure contracts for another Rs 11,000 crore in the near term.
The portfolio of BOT projects that Maytas Infra will execute are diverse, spanning power, roads and port buildings among others. The company’s stake in these projects varies from 19.5% to 50%. “There are no other private players in projects where our stake is around 50%.
However, we are open to tying up with other players in case of any shortfall in resources while executing the project”, he said. One of the projects in their portfolio include the Rs 1,500-crore Machilipatnam port project spread across 6,266 acres.
Hyderabad-based Nagarjuna Construction (NCC) and Srei Finance are the other partners of the project. It is also executing a Rs 1,500 crore power project in the state where the company has 19.5% stake. The project, which entails building a 464-mw natural gas power plant, has NCC, GVK and Malaysia-based IJM as other consortium partners.
Maytas has also bagged contracts worth Rs 200 crore for two airports in Karnataka. The company, along with consortium partners Navbharat, Italthai and IL&FS, has been shortlisted for the Rs 9,200-crore Hyderabad Metro Rail project. The technical evaluation is complete and financial bids are set to be floated soon.
Like its peers, Maytas is also aggressively bidding for these projects to lift revenues and garner higher returns from equity. Infrastructure spends are expected to top $320 billion over the next five years and many firms have floated special purpose vehicles which tie-up with strategic or financial partners to execute BOT projects.
“Maytas Infra raised Rs 327 crore from its initial public offering in October 2007. And half this money will be spent on various BOT projects”, Mohan Gurunath, the company’s strategic head told ET. It has already bagged projects valued at Rs 9,000 crore and hopes to secure contracts for another Rs 11,000 crore in the near term.
The portfolio of BOT projects that Maytas Infra will execute are diverse, spanning power, roads and port buildings among others. The company’s stake in these projects varies from 19.5% to 50%. “There are no other private players in projects where our stake is around 50%.
However, we are open to tying up with other players in case of any shortfall in resources while executing the project”, he said. One of the projects in their portfolio include the Rs 1,500-crore Machilipatnam port project spread across 6,266 acres.
Hyderabad-based Nagarjuna Construction (NCC) and Srei Finance are the other partners of the project. It is also executing a Rs 1,500 crore power project in the state where the company has 19.5% stake. The project, which entails building a 464-mw natural gas power plant, has NCC, GVK and Malaysia-based IJM as other consortium partners.
Maytas has also bagged contracts worth Rs 200 crore for two airports in Karnataka. The company, along with consortium partners Navbharat, Italthai and IL&FS, has been shortlisted for the Rs 9,200-crore Hyderabad Metro Rail project. The technical evaluation is complete and financial bids are set to be floated soon.
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