DRIL to invest around Rs 50 crore to complete 2 ropeway projects by 2022-end

Damodar Ropeways & Infra Ltd (DRIL) is looking to invest around Rs 50 crore to complete two ropeway projects in the country by the end of 2022 as part of its growth plans, a top official of the company has said. The company has ropeway projects in Assam, Jammu, Sikkim, Madhya Pradesh, Rajasthan, and Himachal Pradesh, among others.

"We will be investing approximately Rs 50 crore to complete two ropeway projects under BOOT (build, own, operate and transfer) scheme, which will be completed by the end of 2022," Damodar Ropeways & Infra Ltd Managing Director Aditya Chamaria told .

The projects will be at Udaipur in Rajasthan and at Khordha in Odisha, he added.

The company is also developing a ropeway at Vanabar Hill in Jehanabad district of Bihar on a contract basis for Bihar Government under the EPC (Engineering,Purchase & Construction) basis, Chamaria said.

When asked how the company plans to fund the expansion, he said: "We plan to fund the projects with our internal resources and also term loan".

DRIL specialises in building passenger ropeways, material ropeways and ski-lifts as well as bulk material handling plants and real estate projects.