IRB Infra renews focus on road projects

Indian toll-road builder IRB Infrastructure Developers plans to renew its focus on road projects and has dropped plans to foray into power, while its cement plans are on hold, a top official told Reuters on Monday.

"...There is a lot of orderbook build-up happening on the road-side itself. So we want to keep focused on highway biddings," Chairman and Managing Director Virendra D. Mhaiskar told Reuters in an interview. Earlier in June, the company said it was planning to diversify into cement and power segments.

"We looked at it (power), we also got qualified (to bid) for one or two projects, but we decided internally we are not going for it," Mhaiskar said without elaborating further.

The company has also put a hold on its plans to venture into the cement sector too, As on today, IRB Infra has 16 build-operate-transfer projects, of which 10 are operational, and an orderbook position of close to 100 billion rupees.

He did not divulge the details of power projects where IRB Infrastructure was qualified to bid. It has "no immediate plans" to venture into cement sector, following a lack of clarity, especially in mining segment. The company had plans to bid for limestone mines as part of its cement foray.
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