Arshiya Rail Infrastructure is in talks with private equity players to raise around INR 100 crore by divesting 15% to 18% stake. The company will be able to complete the fund-raising by September to October 2009.

The proceeds will be utilized to part finance the second-phase expansion of the container railway infrastructure project. A total of 45 rakes will be added in the second phase at an estimated investment of INR 1,600 crore.

Meanwhile, the company has initiated its pan-India rail operations with the deployment of its first of the planned 30 rakes in Phase I for Vedanta Aluminium on February 2nd 2009.

(Sourced from Projects Today)