GIPL plans to foray into urban infrastructure

Mumbai: Gammon Infrastructure Projects said it is mulling to foray into urban infrastructure, airports and power transmission, besides taking up projects abroad.

'We have build up adequate strength in road, power and port segments. Going forward, the company will look at expanding its reach to urban infrastructure, airports, power transmission and special economic zones,' GIPL Chairman and MD Abhijit Rajan said.

The company will focus on big-ticket projects only in the existing segments, he said.

Apart from its ongoing 14 projects valued at Rs 5,500 crore, out of which four are currently operational, GIPL is also looking at infrastructure opportunities abroad and hopes to make announcements soon, Rajan said not divulging any further details.

Rajan said the company intends to balance risk return profile with a mix of market-based and assured return projects.

'A well-balanced portfolio in terms of projects will enable us to balance scalability with market-based projects and growth through assured return projects,' Rajan said.

Meanwhile, GIPL in its annual report said that it is considering setting up an infrastructure fund either on its own or with a partner.

'We intend to leverage our experience in the infrastructure sector to set up an infrastructure fund either on our own or with a partner,' the report said.

The company may also make the seed investment in this infrastructure fund, he said, however, adding that so far no applications with regulatory authorities have been made.

'However, this remains high priority in our agenda,' the company said.