Consolidated Construction Consortium (CCCL), which has interests ranging from construction to airports, has sought shareholder nod to make investments into its susidiaries such as Delhi South Extension Car Park, CCCL Infrastrucrure and CCCL Pearl City Food Port SEZ for financing its on-going projects.
In June 2010, the shareholders of the company had approved an overall borrowing limit of around R3,500 crore, with a view to infusing into the subsidiary companies and help them complete the projects.
According to sources, the investment in Delhi South Extension Car Park will be close to R270 crore, which the arm needed towards setting up a multi-level car park in South Extension in New Delhi. The new subsidiary company was incorporated in 2010 with an authorised share capital of Rs 10 crore, for executing multi level car park in New Delhi, under build, own, operate and transfer system. The multi level car park will be executed in tie up with a Korean firm, Samjung Tech. An investment of Rs 60 crore has been planned into CCCL Infrastructure, towards project cost for development of grid connected 5 mw solar power project near Tuticorin under Jawaharlal Nehru National Solar Mission. CCCL has plans to infuse close to R134 crore into CCCL Pearl City Food Port SEZ, either through CCCL Infrastructure, a wholly-owned subsidiary, or directly into the company for development of infrastructure facilities at SEZ at Tuticorin, and further funds towards project cost for phase I of SEZ.