July 3, 2008
Reliance Infrastructure Plans $7 Billion of Investments in India and Abroad, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- Reliance Infrastructure Limited (BOM:500390) (Mumbai) will make investments of around $7 billion over the next three years toward expansion of its domestic engineering and construction business, as well as acquisition of assets overseas. Along with many other projects, the company is currently building a 12-kilometer (km) stretch of metro rail in Mumbai in partnership with Veolia Transport, a branch of Veolia Environnement SA (NYSE:VE) (Paris, France). Reliance Infrastructure and Canada-based Bombardier Incorporated (TSX:BBD.A) (Montreal, Quebec), the world's second largest manufacturer of trains, have jointly bid for the 67-km rail corridor project in Hyderabad, India. The company is also developing 400 km of roads in south India, as well as 77 acres of land in Hyderabad, where it will construct a 100-storey building to lease office space.
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SOURCE: Industrial Info Resources