Nagarjuna Constn to invest Rs 130 cr in Kerala

Kochi, Dec 3: To expand its footprints in Kerala, Hyderabad-based Nagarjuna Construction Company Ltd plans to invest Rs 130 crore for various construction and infrastructure projects in the state.

Addressing mediapersons here today, Founder Chairman A V S Raju said the company would invest Rs 130 crore for apartment and commercial projects apart from an IT park in the capital city of Kerala.

Mr Raju said presently the company was having commercial projects worth Rs 130 crore, which included a software development centre for WIPRO. The company with an annual turnover of about Rs 3,000 crore had projects in 100 locations in 20 states in the country, he added.

Apart from national projects, the organisation was undertaking a 750-crore road project and a 150-crore waterline project in Oman, he pointed out.

In the UAE, the company was in the initial stages for a 100-crore waterline project, Mr Raju said. The organisation also raised Rs 600 crore through Global Deposit Receipts (GDR) for its various construction projects last year, he added.

UNI