Infra structure giant, Reliance Infra will bid for road projects worth Rs 40,000 crore and has applied for mining leases and prospecting licences in various parts of the country, company’s chairman Anil Ambani told shareholders in company’s annual letter here on Friday.
Reliance Infra, through its special purpose vehicle, has been developing 11 road projects with a capital outlay of Rs 12,000 crore. Of these five projects have started generating revenues and the other six projects would start generating revenue shortly, Anil Ambani’s letter said.
Charting out the future growth plans, Ambani said it continues to explore opportunities in the road sector by shortlisting 21 projects worth Rs 40,000 crore for bidding.
For cement business Ambani said that Reliance Cement Company Private Limited (RCCPL), a subsidiary of R-Infra has achieved certain milestones towards setting up two plants one in Maihar Madhya Pradesh and the other in Mukutban Maharashtra.
The construction of the satellite grinding unit at Butibori, Nagpur linked to the Mukutban project is nearing completion and is expected to commence commercial production in the later half of the current year.
The company’s total income rose to Rs 18,615 crore in 2011-12 from Rs10, 210 crore. The net profit rose to Rs 2,000 crore from Rs 1,081 crore in the previous financial year.