Vishvaraj Infra in talks to raise $100 million
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Mumbai: Vishvaraj Infrastructure Ltd on Thursday said it is in talks to raise about $100 million to expand its water supply, sewerage treatment and road construction projects.
The company plans to raise the amount over the next three to six months, chairman and managing director Arun Lakhani said. Vishvaraj Infrastructure did not disclose who it was in talks with.
The Maharashtra-based roads and highways developer said it will use the fund for new road projects under the hybrid annuity model (HAM), the upcoming Smart City projects, and projects under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.
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, Vishvaraj Infrastructure said in a statement on Thursday.