| Ankineedu Maganti, director of Soma Enterprises, said, "We have recently been awarded four irrigation projects in Andhra Pradesh worth approximately Rs 1,000 crore in Rajahmundry, Karimnagar and Visakhapatnam. We will be executing these projects jointly with Patel Engineering." |
| The company is also executing the side-levelling work for the Rajiv Gandhi International Airport at Shamshabad. |
| Soma Enterprises is looking at more than doubling its revenues from Rs 310 crore last fiscal to approximately Rs 700 crore this financial year. |
| One of the reasons for this optimism is the new policy of the government with regard to promoting irrigation projects. |
| "In addition to this, we are also bidding for the National Highway Authority of India (NHAI)'s north-south-east-west (NSEW) corridor in Gujarat and Rajasthan and also for the National Hydroelectric Power Corporation (NHPC)'s power projects in Himachal Pradesh," Maganti said. |
| The company has also been awarded the construction of a 118-kilometre highway near Nashik on which it is working with Delhi-based Ircon International Ltd on a build-operate-transfer (BOT) basis. |
| "The pre-construction part of the project is currently going on, and we are in the process of tying up the finances. A special purpose vehicle (SPV) will be formed for this project this month," Maganti said. |
| "We are also handling a road project on the Bangalore-Mysore sector. Initially, the road project was slated to be completed by April 2006 but it is likely to be over by November this year itself," he added. |
| Soma Enterprises has, to its credit, projects like the Nellore bypass on NH-5, Prakasha Barrage in Maharashtra, Kamshet Tunnel and Khandala Tunnel on the Mumbai-Pune expressway. |
| The company has so far been focussing on highway, irrigation and hydro-power projects. It is now, however, looking at increasing its focus on real estate projects as well. |
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