Efkon plans US$19.5 million investment in India
First publishedon www.ITSInternational.com
Within the next four or five years, more than US$19.44 million will be invested by Efkon India in its urban transportation and highway tolling businesses in the country.
Pushkar Kulkarni, CEO of Efkon India told The Economic Times that the company will be increasing its investments since more contracts are being awarded by the National Highways Authority India.
He projected the domestic highway tolling equipment segment to grow by 10 times within the next five years, while the toll plaza operation and maintenance business has the potential to expand by two-fold in the next three or four years.
Efkon says its owns a 50 per cent share in the toll system equipment market as well as operating two toll plazas on the Bangalore and Vijaywada highways. Currently, the company is executing the Yamuna Expressway project.
Kulkarni also revealed that while toll system equipment and services make up the bulk of the company's revenues, logistics management, GIS mapping and vehicle tracking system contribute 10-15 per cent. Indeed, he told the Economic Times that the company is also looking at higher revenues through installation of automatic fare collection systems for buses, and is already working on one such project in Jaipur. Its other areas of operation are smart cards and setting up of transaction settlement clearing houses.