IDFC has invested Rs.656 million in the equity of its group company viz. Jas Toll Road Company Limited (JAS). JAS owns, operates and maintains a 32 kms 4-lane road on National Highway 4 between Neelamangla and Tumkur, near Bangalore. The concession was awarded through a tender process in 2001 by NHAI under a BOT format, and extends to 2021. The project was completed well ahead of schedule and is amongst a small number of successfully operating toll road projects in the country.
IDFC is a leading infrastructure finance institution in India. It also intends to partner with group by investing in equity of its proposed power and mining ventures.
Abhijeet Group signed an agreement with Australian owned Thiess India Pvt. Ltd. for the execution of a Rs. 4500 Cr Coal mining contract. This involves the development and operation of the Greenfield open cast coal mine for a period of 20 years, located in North Karanpura Coal Field of the Jharkhand State. The Mine is forecasted to reach an ultimate capacity of 6.75 million tonnes per annum. Thiess India will commence work in early 2008 with the development of the mine infrastructure, the coal handling plant and the conveyors.
Thiess India Private Limited is a wholly owned subsidiary company of Thiess Pty Ltd, which is leading integrated engineering and services provider with diverse operations throughout Australia, South East Asia and the near Pacific.