The Company has acquired 26% stake in SELI (Societa Esecuzione Lavori Idraulici S.p.A), one of the world’s most experienced tunneling contractors based in Italy, for a total consideration of EUR 17.85 million

Italy-based SELI has established operations across the world including India. SELI also designs & builds hard rock and soft ground tunnel boring machines and auxiliary equipments in its manufacturing facility in Italy. SELI has completed more than 520 km of tunnels with the use of mechanized excavation systems and has completed 68 projects around the world.

Company has completed over 75 km of tunneling work and presently has 250 km under execution. The company is backed by prominent global private equity investors like Baring, Sequoia Capital, Fidelity and Deutsche Bank and has an order book of over Rs 7,500 crore.

Coastal Projects and SELI have also agreed to work together in South Asia. With increased number of tunneling projects in India expected to be implemented using Tunnel Boring Machines (TBMs), Coastal Projects stands to benefit from its association with SELI as it also designs and builds hard rock and soft ground tunnel boring machines and auxiliary equipment.

Coastal Projects already owns three TBMs in India and SELI’s global expertise in operations and manufacturing of these machines will be a key differentiator at the time of bidding and execution of projects.

Global private equity majors Barings, Sequoia Capital, Fidelity and Deutsche Bank have invested Rs 333 Cr in Coastal Projects, doubling their combined stake to 34%

On 2nd August 2011 our Udaipur team under the leadership of Mr.Iftekar Hussain, DGM has day-lighted in Face VII and VIII at the end of the tunnel at Dewas Carrier Canal project

On 27th August 2011 our DLIS Devadula team under the leadership of Mr.T.Prasad, Sr General Manager and Sri.P.Vasantha Kumar, Sr Project Manager has connected 7.7KMs tunnel by excavation through Adits 6 & 7 in opposite directions in record time.