AIL plans to enter capital market

Kolkata, Feb 13 (UNI) Afcons Infrastructure Limited(AIL), a leading civil engineering and construction company, is planning to enter the capital market to raise funds for further expansion and finance acquisitions.

AIL managing director K Subramanian today said the company would complete by 2009 the construction of the world's tallest railway bridge on the river Chenab in Jammu and Kashmir.

He said the bridge would be one of the most prestigious construction marvels of the world.

Mr Subramanian said the 1315 metre long bridge, being constructed at a cost of Rs 500 crore, would have a total height of 389 metres, about 10 metres higher than the Empire State building of New York and over 60 metres taller than the Eiffel Tower of Paris.

He exuded confidence that the bride would catapult the company to newer highs and help them become one of the largest player in the sector.

''Following the construction of the Chenab bridge and completing other major prtojects, both within and outside India, we are likely to become one of the largest players in the civil construction business,'' he said.

He said besides the bridge the company portfolio includes a variety of programmes like the construction of marine works, flyovers, roads, nuclear power projects and tunnelling under the sea in Dubai.

To a query, he said apart from undertaking a number of major projects within the country, the AIL had completed a number of civil construction projects in Iran, Oman, Yeman, Mauritius, Dubai, Qatar, Ethiopia and Sri Lanka with a total project value of Rs 2000 crore.

Mr Subramanian, however, refused to make any forward looking statement in terms of their financial result, citing SEBI guidelines to this effect.

UNI