Vishvaraj Infra to raise $100 m for expansion in water, road projects
Vishvaraj Infrastructure Ltd. (VIL) is planning to raise $100 million to boost its expansion plans in the water supply, sewerage treatment and road construction projects. VIL will utilise the fund for the upcoming Smart City projects, AMRUT projects, hybrid annuity road projects and to expand its business. The company has expertise in urban water supply and sewerage treatment plants.
The company has been short-listed for a water supply contract in Rajasthan and is in the process of bidding for several other city water and sewerage facilities. As the government encourages the development of Smart Cities, tenders for water supply and sewerage treatment and urban solid waste will come up and Vishvaraj will bid for these tenders showcasing what they have achieved with the Nagpur project. The by-products of sewer-age treatment, apart from water, can be used to make bio-fuels, which can be used for running trucks.
According to Arun Lakhani, Chairman and Managing Director of VIL, the move to raise the amount will be completed over the next 3 to 6 months. “We have been implementing one of the major integrated water supply and sewer-age treatment project for Nagpur Municipal Corporation (NMC) under public, private partnership (PPP) model. Apart from providing 24 hours safe drinking water to People in Nagpur municipal limits, including slum dwellers, the sewerage treatment plant proposes to supply treated water to NTPC power project near Nagpur. While the treated water will be used in the power plant, the water allocated for power plant will be diverted for drinking water requirements. Similar project have been supplying treated water to Mahagenco power project," he said.
The Orange City Water, a joint venture of Veolia of France and Vishvaraj Infrastructure, has added the fourth dimension to the public-private partnership project. The projects have managed to successfully engage people and their participation has helped implement the mega project as per plans. Along with this several other projects are being executed in Karnataka for urban drinking water supply, on the government-owned model but implemented by Vishvaraj.