MUMBAI: Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group (R-ADAG) plans to build a 12 million tonne steel plant in Jharkhand and will soon achieve financial closure for its mega infrastructure project, the Mumbai Metro Rail project.

The company, in consortium with Veolia of France, is building the 12-km elevated Metro Rail in Mumbai at Rs 2,400 crore. "With term loans of Rs 1,200 crore tied up, the Metro is expected to achieve financial closure shortly," chairman Anil Ambani told shareholders at the company's 79th annual general meeting. "As per the concession agreement, we are expected to complete the work in five years' time, by September 2012. We are hopeful of commissioning the metro line by September 2010, a full two years ahead of schedule," he added.

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Posted by boyang at September 17, 2008 11:56 AM