CCCL will tend to focus on rate contract-based work
Consolidated Construction Consortium Ltd will focus on rate contract-based construction orders rather than large infrastructure projects, according to R Sarabeswar, Chairman and CEO. Addressing shareholders at the annual general meeting, the Chennai-based company which has gone in for corporate debt restructuring, said it will focus on construction contracts for factories, institutions and other structures, where there is a healthy order flow.
The company had secured significant orders in design-build contracts for metro rail projects, but it has not been a happy experience. CCCL is involved in a legal dispute the Chennai Metro project, Sarabeswar said while declining to elaborate further as the subject was sub divided.
He added some of the significant orders on hand include construction of a corporate office for ONGC and large buildings for medical colleges and hospitals. This is the company’s core area and strength, he said.
The Conoslidated Construction Consortium Ltd has stated that they will be focusing on the rate based contract which taking the construction orders. The company has gained some orders for building contracts like metro railway projects and some other constructions of colleges.
Source: The Hindu Business Line
CCCL, Chennai-based company, Consolidated Construction Consortium Ltd, corporate debt restructuring, large infrastructure projects, Metro rail projects, ONGC, R Sarabeswar
