Quipo lines up Rs 2,000 cr for energy, construction tools

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New Delhi, Nov 23 (UNI) The city-based Quipo Infrastructure Equipment Ltd (QIEL), which provides equipments on rental basis, today said it will invest about Rs 2,000 crore in the energy and construction equipment sectors by 2011.

''We will infuse Rs 2,000 crore in the energy sector and construction equipment sectors in the next four years,'' company's Chief Executive Officer Hemant Pincha told reporters here.

The firm will put in Rs 500 crore to raise its energy generation capacity to 200 MW from existing 20 MW, while Rs 1,500 crore will be invested into construction equipment sector which at present has assets worth Rs 350 crore, he said.

''We plan to raise 50-60 per cent of the total funds through debt and the remaining through equity,'' Mr Pincha said.

The company is also planning to foray into the West Asian market to tap the opportunities available there, he said.

''The company may form a subsidiary in the free zone area or expands its wings through the local partners,'' Mr Pincha said.

The firm rents earthmoving, concreting and general construction equipment on two-three years contract. Its major clients include L&T, DMRC and IVRCL.

UNI

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