SREI to raise $ 1.25 bln through ECB this fiscal

Kolkata, Aug 7 (UNI) SREI will raise 1.25 billion dollars through External Commercial Borrowing and overseas bonds in 2007-08 for financing its projects.

Speaking to mediapersons here today SREI Managing Director Hemant Kanoria said the company would need to raise the money for funding its various projects.

''We will enter new overseas markets like Srilanka, West Asia, Mauritius and expand our presence in existing markets like Russia,'' he said.

The company is expecting to increase its revenue by 30 to 40 per cent year-on-year basis over the next two years.

''We will target this revenue from fee-based income like preparing DPRs, feasibility studies, infrastructure project conceptualisation and many others,'' he said.

In Srilanka, a Singapore-based consortium led by SREI would prepare DPR for a transport project.

Meanwhile, Mr Kanoria said the company is targetting 50 million Ero from its Russia project.

UNI