ECI raises Rs 100 crore of private equity capital from Sabre Capital

05 April 2008

Hyderabad: Hyderabad-based infrastructure and development company ECI Engineering and Construction Company Limited (ECI) has raised Rs100 crore in private equity capital through a preferential allotment to Sabre Abraaj India Private Equity Fund I Limited, a fund managed by Sabre Capital.

ECI will use this capital to expand its construction business, finance its investment in hydro power build-own-operate-transfer (BOOT) projects, and to build a modern manufacturing unit to fabricate steel towers required for their core power transmission and distribution (T&D) business.

Sabre  will be represented on the board of directors of the company by its co-founder and managing director Rajiv Maliwal.

ECI is a mid-sized infrastructure company that executes construction projects in power transmission and distribution (T&D), highways, railway electrification, hydro-power generation, irrigation and other civil infrastructure segments.

It  undertakes EPC contracts for customers such as National Highways Authority of India (NHAI), Power Grid Corporation of India Limited (PGCIL) and various state governments,  and has undertaken electrification work for the Indian Railways.

ECI has also commenced civil works for its hydro power generation projects for which it has received licenses on a build-own-operate-transfer (BOOT) model. ECI has developed competence and experience in executing projects in diverse regions of the country including the relatively under-penetrated North and North Eastern part of India which offers enormous potential for infrastructure development.