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Subhash Projects plans West Asia foray

Calcutta, Feb. 17: Subhash Projects and Marketing Limited plans to enter West Asia and will set up an office in Abu Dhabi by next month.

?We are tying up with local players in Abu Dhabi, who will look after the environmental issues and we will bring the technical expertise. Since every country has its own rules and regulations, it makes sense to tie up with the local players to establish one?s presence,? vice-chairman S. C. Sethi said.

?We are trying to tap the huge potential of infrastructure development in the region,? said Sethi. The company plans to start its operations in Abu Dhabi at the start of next fiscal and expects to attract Rs 200-crore worth of business in the first year.

Subhash Projects also plans to expand its operations to Qatar, Kuwait, Dubai and other parts of West Asia.

?In the first year, we expect overseas projects to contribute 10 per cent of our total turnover. We will expand our operations based on the size of our business,? added Sethi.

Subhash Projects operates in water management, power project and distribution and other civil and infrastructure development projects. The company has posted a turnover of Rs 117 crore in the last financial year.

?In the current fiscal, we expect a turnover of around Rs 200 crore,? said Sethi. The current order book size of the company is Rs 700 crore and it expects another Rs 500 crore worth of projects in the next fiscal.

The company is setting up an electrical business division to tap the Rs 50,000 crore worth of electrical projects undertaken by the government under the Accelerated Power Development and Reforms Programme (APDRP), said Sethi.

The company will carry out a Rs 100-crore water management project of the Santaldih Thermal Power Station, which should be completed by next year.

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