Indian Infrastructure Company, Subhash Projects and Marketing Ltd (SPML), is entering in the field of the urban infrastructure. It would undertake various projects of airports, metro rail and freight corridor. The company had, already, executed various projects in water management and power distribution. It is now bidding for airport infrastructure construction projects in tier II cities like Raipur and Indore. The airports of Raipur and Indore would be modernised by the Airports Authority of India at an estimated cost of Rs300 crore.

SPML has also participated in the bidding of the first tender of freight corridor projects in Mugalsarai (UP) and Gajkwaja (Bihar). It will also bid for the first 105 km of the 2,700-odd km long freight corridor project by Indian railway. The infrastructure company is expected to generate an additional Rs 1,000 crore from such projects by 2012.

SPML will form separate joint ventures with a Thailand-based company, CH Karnchang, to work on various infrastructure modernization projects. Thai company will provide technical and financial support for airport and metro rail projects to SPML. SPML will create separate special purpose vehicles (SPV) for each project though the share-holding pattern. It will float four special purpose vehicles (SPVs) over the next three years and will undertake internal restructure projects.

The company’s immediate focus in FY08-09 will be on water management projects. These water management related projects will be operated in private-public partnership (PPP) and build-own-operate-transfer (BOOT) mode. Two such projects are being executed at Bhiwadi and Latur in Maharashtra. These projects are expected to contribute 20-25% in SPML’s PPPBOOT business. The company’s net turnover is increased by 44.36% in fiscal 2007-08.