SREI to raise US $ 1.25 billion through ECB this fiscal

Kolkata, Aug 7(UNI) SREI will raise US $ 1.25 billion 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, Middle East, 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 in the next two years.

'' We will target this revenue from fee based income like preparing DPRs, feasibility studies, infrastructure project conceptualisation etc,'' 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 Euro 50 million from its Russia project.

UNI