Ramky Enviro Engineers to invest Rs 2,500 crore for expansion

Ramky Enviro Engineers Ltd managing director and CEO M Goutham Reddy has said the company is planning to invest about Rs 2,500 crore on expansion and new projects.

Speaking after the announcement of global investment firm KKR acquiring a 60 per cent stake for $530 million in Ramky, Reddy said: “The investment will be spread over the next two to three years and include projects in some select markets overseas as well.”

He added: “With a strong investor like KKR backing the company, we would be able to take up next phase of growth. The funding requirement would be met through part of the funds we raised, and through internal accruals and debt.”

“Of the Rs 1,900 crore turnover the company logged last fiscal, about 30 per cent, $100 million, comes from overseas projects. We expect this to go up by about 5-6 per cent in the near term,” Reddy said further.

Image Credit : thehindubusinessline.com

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