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| Exchange Disseminated Time | R P P Infra Projects Ltd has informed BSE regarding a Press Release dated March 01, 2011 titled "R.P.P. Infra bags a International order worth INR 1500 Crores".
Press Release :
"RPP Infra has won a mass-housing contract in "Republic of Gabon" (RG) awarded by the Ministry of Housing. The contract is awarded to RPP Infra on 'Design & Build and Transfer' (DBT) model. The objective of the contract would be to construct and deliver 10,000 houses over 36 months over various phases. The total contract is valued at Euro 250 million. Under this agreement the government shall provide 120 Hectares of free land for the construction of the houses.
As part of the agreement R.P.P. Infra will have the right to utilize 20 % of the land for its own Residential / Commercial / Institutional complexes and sell it in market. The Government will buy from R.P.P Infra if it is unable to sell it in the market over 36 months from the date of construction. The land parcels have been strategically identified at different locations across RG having highest Demand.
In Phase1,1500 out of 10,000 dwelling units would be constructed across 70 hectares and handed over to RG. R.P.P Infra shall deploy cost effective methodologies and technologies , state of the art tools & machinery apart from skilled and un skilled resources to complete the project on time. The Value of the phase 1 is estimated at IMR 225 Crs other phases are to follow subsequently.
The Government of Gabon has additionally offered R.P.P Infra various Incentives such as TAX SOPs, duty free import of Machinery, Tools, Construction materials and plant.
Currently RPP is currently developing an integrated township project for NTECL (A NTPC & TNEB Joint venture) in Vallur, Northern Chennai.
As on 28 Feb 2011, Order book on hand is around INR 2225 Crs to be executed over 36 months.
Commenting on this project, Mr. Arul Sundaram, Chairman and Managing Director of RPP Infra Projects Limited said that "We are happy that from a small town in Tamil Nadu we were able to win a multi million euro deal internationally. R.P.P Infra's vast experience, strong expertise in Urban development and on timely execution has been our key to winning this deal.
R.P.P Infra has proposed a comprehensive, Cost effective approach plan enabling Gabonese Government to construct more dwellings with limited resources. As the demand for Quality housing in Gabon is very high and is increasing with time, this initiative will be immensely welcomed by the people of Gabon. R.P.P Infra would deploy a combination of domestic and international resources to complete the project on time. We are confident to attract more such high value projects in Gabon or other neighboring African countries by leveraging our capabilities." |
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