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IVRCL Infrastructure and Projects<br>From project developers to project owners
By A Business Correspondent
The public private partnership (PPP) has started taking off in a small way in the country. Water, sewerage treatment and management of parking facilities are among the three utilities which are attracting private participation. IVRCL Infrastructure and Projects Ltd, a Hyderabad-based company, is emerging as one of the aggressive players in this sector. A Rs 270-crore construction company, IVRCL along with its subsidiaries have bagged a number of projects in the water supply and sewerage treatment sector.
The highlights of some of the projects bagged are detailed below:
Alandur Sewerage Plant
First STP Pvt. Ltd, a subsidiary, is setting up a sewerage treatment plant at Alandur, a suburb in Chennai. The plant would be having a capacity for treating 24 million litres of waste per day generated by the Alandur Municipality. An underground sewerage system is also being constructed by the company to facilitate the collection and treatment of sewage.
The concession to execute the project on BOOT basis was signed between the Alandur Municipality and IVRCL Infrastructure in March 2000. The project is expected to be completed by March 2002 and regular treatment of sewage would commence from June, ahead of its scheduled date. The project which is estimated to cost around Rs.7.24 crore would be carried out in two phases. In phase I the cost will be Rs 4.75 crore while the second phase is expected to cost Rs 2.49 crore. ICICI has sanctioned a term loan of Rs 3 crore towards the same.
M/s Va Tech Wabag, an Austrian company and a leading global leader in water treatment technologies, will be providing designs and engineering supply of mechanical piping, electrical and instrumentation for the plant. IVRCL Infrastructure would be doing the completion of civil work, fabrication and erection of structural works.
Tirupur Municipal Solid Waste Composting Plant
IVR Enviro Projects Pvt. Ltd, another subsidiary, is setting up a, municipal solid waste composting plant on a BOOT basis at Tiruppur in Tamil Nadu. This plant would have a capacity of treating 100 tonnes per day. An agreement for operating the plant has been signed with the Tirupur Municipality. The plant is awaiting environment clearance. The total cost of the plant, including pre-operative expenditure, is Rs 20.71 crore.
Development of Games Village
IVR-Prime Urban Developers, also a subsidiary of IVRCL Infrastructure, is developing the National Games Village in Hyderabad at an estimated cost of Rs 130 crore. The company which holds the development rights has entered into a multi-party agreement with ICICI, APIIC, Sports Authority of Andhra Pradesh and IVRCL Infrastructure. The project is estimated to be completed ahead of the games scheduled to be held in February 2002.ICICI has granted a term loan of Rs 70 crore and provided bank guarantees of Rs 8.5 crore. Global Trust Bank has provided bank guarantees of Rs 9.05 crore.
Electrical transmission lines
IVRCL Infrastructure is executing a project relating to the erection of 400 kV transmission lines from Visakhapatnam to Kathipudi over a distance of around 92 km.
The company, which plans to position itself as a complete infrastructure company, has in a way progressed from infrastructure provider to infrastructure project developer and owner. The company has other subsidiaries; IVRCL.com which is currently evaluating opportunities of developing a portal on infrastructure industry and IVRCL Information Technology. IVRCL PSC Pipes Private limited which would be supplying pipes to meet the requirements of IVRCL Infrastructures & Projects.
During the year ended March 2001, the company earned a post-tax profit of Rs 12.80 crore. The net worth stood at Rs 85 crore while the total funds deployed were Rs 183 crore.
(16/10/01)
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