Our Bureau

Chennai , Nov. 2

MARG Constructions Ltd plans to raise fresh funds with the issue of foreign currency convertible bonds and has appointed Deloitte Haskins & Sells to carry out the due diligence.

Mr G.R.K. Reddy, Managing Director, Marg Constructions, told Business Line that this was to fund its existing information technology projects.

International property management consultants, Colliers International (India) Property Services Pvt Ltd, has submitted a draft opinion of value of the company's properties in Chennai. It has also submitted the location assessment study of the properties developed on the East Coast Road and the IT Corridor.

Mr Reddy said the company has submitted a detailed project report to the Pondicherry Government on the Karaikal Port Development Project by L&T Ramboll Consulting Engineers Ltd.

It has also received a letter of intent from Oakwood Asia Pacific Ltd, Singapore, to enter into a management agreement, offshore technical service and marketing agreement and trademark licence agreement to manage and develop serviced apartments.

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