IRCON, CONCOR joint overseas foray
CONCOR and IRCON are to jointly bid for constructing and operating rail lines and container depots in Jordan, Nigeria, Mozambique and Saudi Arabia.india Updated: Feb 18, 2006 12:41 IST
Container Corporation of India (CONCOR) and IRCON, the construction arm of the Indian Railways, are planning to jointly bid for constructing and operating rail lines and container depots in Jordan, Nigeria, Mozambique and Saudi Arabia.
The Railway PSU was also planning to diversify into real estate and hydroelectric projects, budget hotels and bid for Chandigarh's Monorail project, top IRCON officials said on Saturday. It is looking for suitable partners in each of these categories.
It has also made presentations to the Delhi Government and plans on making one to the Gujarat Government soon, they said.
Both the organisations are Public Sector Undertakings under the Ministry of Railways.
CONCOR is one of the 14 bidders for running freight train services across the country, including those on the Delhi-Mumbai route.
"With more ports being set up in Africa and other parts of the globe, everyone wanted to tap the tremendous opportunity in port-related infrastructure such as rail connectivity, setting up of container depots and managing the infrastructure", they said.
IRCON, they said has the distinction of undertaking and completing several railway construction projects overseas including in Indonesia, Bangladesh, Nepal, Brazil, Ethiopia, Malaysia and the United Kingdon, and was likely to take up new responsibilities in Sudan, Afghanistan, Syria, Turkey, Dubai and Venezuela.
The PSU has a tie-up with a Malyasian company with expertise in monorail, M-Trans Holdings. The tie-up has been called IRCON-M-Trans Joint Venture to work together for the planning and construction of monorail projects in various cities in India.
IRCON, they said has traditionally done engineering, construction, management projects for various railways and highways that involves expertise in signalling and telecom, amongst others.
Backed by a strong order book position, they said IRCON was also planning to diversify into real estate and hydroelectric projects, apart from strongly focussing on urban transport projects as well.
It also plans to bid for Chandigarh's monorail project, the sources said adding that the Railway PSU has also made presentation to the Delhi Government and also plans to make the same to the Gujarat Government soon for its Ahmedabad project.
The PSU was aiming for a turnover of Rs 2,000 crore by the next 4-5 years. In the current year it expected a turnover of around Rs 1,100 crore.
In its bid to diversify into real estate and Hydroelectric projects, IRCON has been looking for partners and has received several proposals in each sector from different players and is evaluating them.
The PSU is also entering into an agreement with its sister concern Indian Railway Catering and Tourism Corporation (IRCTC) to construct budget hotels as planned by the Ministry of Railways and IRCTC.
IRCON's major projects within the country included Qazigund-Srinagar-Baramulla and Laole-Qazigund New Broadgauge Rail Link Project in Jammu and Kashmir, which is valued at Rs 2,556 crores including the variation orders.
Setting up of New Zonal Headquarter office at Hubli for South Western Railway, construction of Cable stayed road over bridge at Chiraiya, Patna, Mansi-Sahara Railway road over bridge project and Civil Engineering works upto formation level for Cuttack-Barang (doubling) and Rajatgarh-Barang (doubling) for Rail Vikas Nigam Limited are the other ongoing projects of the PSU.
First Published: Feb 18, 2006 12:41 IST