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Tantia Group looks for new funds to finance bigger projects

By Staff
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Kolkata, Mar 24 (UNI) Tantia Construction Limited (TCL), one of the largest construction units in the country, has planned to raise about Rs 73 crore from the market to bid for much bigger construction projects both in India and abroad in the coming months.

Annoucing his plan to raise the money through book building process with a price band between Rs 45 and Rs 50 from March 27, TCL Chairman and Managing Director I P Tantia here today said with the boom in infrastructural sector continuing they were planning to bid for construction projects worth over Rs 1,000 crore throughout the country and abroad.

" At present with out limited capital base we could bid for projects worth only about Rs 150 crore to Rs 200 crore, " Mr Tantia said and hoped following completion of a number of medium sized projects in different parts of the country, they would now be able to complete with the largest groups in the field.

Providing a detailed picture of the diversified order position of TCL worth more than Rs 817 crore in next two years, Mr Tantia said among them were a 2.1-km-long railway bridge over the Kosi, 25-km -long widening of tram tracks in Kolkata and the construction of a 125-km-long highway in Mizoram.

Since the construction boom was now a worldwide phenomenon, TCL had also spread its wings overseas and successfully constructed four major projects worth over two million dollars in Bangladesh, Nepal and Bhutan during the past three years, Mr tantia said addding a number of construction programmes in the newly emerged aviation and marine sectors had been awarded to them in those countries too.

Since privatisation of non-metro airports was also gaining ground, construction of a number of such airports were being handed over to the private sector units and TCL was a front runner among them, Mr Tantia said and informed that the group had already built the newly constructed Dibrugarh airport in Assam under this programme.

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