MSK Projects raises $8 mn through FCCB

New Delhi, May 22 (UNI) MSK Projects (India) Ltd, an infrastructure development company, which specialises in execution of infrastructure projects on build-operate-transfer basis, today announced it has sucessfully raised 8 million dollars through Foreign Credit Currency Bonds (FCCB).

The company will utilise the funds for the completition of the BOT projects including Dewas water supply project (Rs 90 crore), construction of bus terminals at Jallandar and Ludhiana (Rs 34 crore), construction of Kim-Mandvi Road (Rs 21 crore), Himatnagar by pass project (Rs 8 crore) and building a residental complex at Bhandup in Mumbai (Rs 9 crore).

Work on all projects have commenced and is expected to be completed on time. MSK Projects also have got a secured loan of Rs 100 crore from the infrastructure Development Finance Corporation, Punjab National Bank and the State Bank of India for implementing these projects.

The company also has bagged a Rs 22 crore contract in the new petroleum refinery coming up at Bina in Madhya Pradesh.

UNI MP CS PM1859