Evader, Inc. (EVDR) Subsidiary ASCC to Enter New Business Sectors
Power Transmission and Water Supply
CHANDIGARH, India, June 2, 2011 /PRNewswire/ -- Evader, Inc. (Pink Sheets: EVDR) (www.evadercorp.com) subsidiary ASCC is pleased to announce that ASCC is all set to enter two major sectors - power transmission and water supply.
ASCC builds roads, ports, hydropower, urban infrastructure, airports, special economic zones and water and wastewater management projects, amongst others. With this experience, the company applied for qualification for two projects under the Rural Electrification Corporation (REC) and will shortly bid for two contracts in the these sectors.
Mr. Walia, EVDR CEO and Managing Director, said, "The government of India has been keen on developing the transmission sector to support the aggressive development planned in the power generation space. One of these projects is cutting across a northern state and the other across a central state. If we win, we will have projects spanning across two states. The company would use its expertise to execute these projects if it wins.
"In line with this, the state-owned Punjab State Transmission Corporation Ltd. (P.S.T.C.L.) has planned a number of transmission project tenders. It is expected to spend close to $ 1 billion for setting up such projects. This means players in this arena will have their hands full into the gestation period for transmission projects is over 18 months.
"ASCC has also bid for two water supply projects for suburban municipal corporation Mohali." Mr. Walia said, "water is the single biggest need and opportunity. ASCC is interested only in supplying water to municipal bodies or for commercial purposes."
More details will follow.
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