Tuesday November 3, 02:12 AM

Source: Indian Express Finance

Hinduja's overseas arm eyes infra projects

By fe Bureaus
Gulf Oil Corporation, a Hinduja Group company, is eyeing huge infrastructure projects, including building roads, tunnels and bridges, which require expertise in mining and explosives, and for this, the firm is working with mine owners to undertaking projects in the coal and iron ore sectors. With coal mines planning to offload their mining operations, the company is bullish on this opportunity in contract mining. Besides, the company is looking at projects related to irrigation, power generation and roads. We are looking at large projects which require expertise in using explosives. Some of the projects include tunnel works that need blasting, using explosives, said S Pramanik, MD, Gulf Oil Corporation, adding that the company is in talks for a few more projects. The move is part of its consultancy division which has been awarded a large mining-related infrastructural contract by the Aditya Birla Group for its alumina project in Orissa. Its current order book size is about Rs 400 crore. Elaborating on the mining and infrastructure segment, Pramanik said the rising demand for coal offers huge potential for mining contracts. He added that the division aims to become a mine develop-cum-operator with contract mining projects. Also, the focus is being added to exports in the explosives division. Products for tunneling and seismic applications will be the key to high value-added business, he added. The explosives division has an order book size of Rs 450 crore and we supply about 40% of Coal India Ltd s explosives. While one-third of the contracts are being executed, the rest are under review due to pricing issues by Coal India, Pramik explained.