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The Government owned infrastructure and logistics major Rail India Technical and Economic Services Ltd (RITES) is likely to go in for IPO in the second quarter of 2008. According to Managing Director of RITES Ltd. V.K Agarwal, it is also planning to enter into the Public Private Participation (PPP) ventures. Hes aid that the company is awaiting a clearance from the Securities and Exchange Board of India (SEBI) for the IPO. As soon as the clearance is obtained, it will enter into PPP, Build Own Transfer (BOT) and Build Own Operate Transfer (BOOT).
Agarwal further added that the world of infrastructure project is growing rapidly and it is changing from consultancy to simple execution of projects to PPP. The possibilities for providing services for government bodies are unlimited. Giving the example of projects in Africa, a continent considered world over as the continent of future, he said that RITES is the most sought after infrastructure, logistics and engineering project management service provider. He also acknowledged the fact that the world rail giant Indian Railways has given them an immense experience as far as handling and setting up of rail projects in any part of the world is concerned. According to Agarwal, in Africa RITES is leasing locomotives and other rolling stock while in India they intend to leave the rolling stock for the rail systems.
Agarwal also said that RITES Ltd. was carrying out some survey work for the east and west freight corridor between Ludhiana (National Highway 1 in Punjab) and Sonnagar (Bihar) and Delhi - Mumbai. These will link major places which
