Today I want to copy some pieces of an interview that came out with the Chairman and Managing Director of IRB Infrastructure, Virendra Mhaiskar.He talked about the entry of foreign players:"So we may get a lot of capital, we may get a lot of companies showing interest to come in and bid. But what would be important to me would be the actual execution capability where that lies. If those guys are not going to bring their equipments and manpower and construct it on ground are going to sub contract it down to an Indian player then there is nothing much changing. That execution capability can't be imported so that we have to grow in-house in the country to execute this size of projects. "Talked about the nature of projects:"I do not know why because in India it is very important to see that the whole road programme that we are embarked upon is a capacity augmentation programm. We are building very few Greenfield projects, most projects are roads which are being developed into a four lane highway,or similar which means that the road already exist and if the road already exist it is a projection so it is not a situation where we are trying to build a new highway."Talking about interest costs:"Even for the new projects that we have bid we are getting the financial closure done at sub 11. But we have to look on a large scale look at long term funding.So there is a talk about re-financing but we have not seen anything met properly. We address the concession agreement by saying okay for a Large size project we need a larger concession so we give you 30 years of concession. Is a 30 year funding available in the country today the answer is no. large size project we need a larger concession so we give you 30 years of concession. Is a 30 year funding available in the country today the answer is no."About the debt equity position of his company:"At the moment the outstanding debt is around Rs 2,700 crore and the networth is around Rs 1900 crore. So in terms of an infrastructure company when we have all the projects getting rolled out the net debt at that time maybe 5500 crore but the networth also at that time would be considerably higher and I do not think the debt equity ratio even at that time would be more than 1.6."And about where he sees his company in the future:"I think we would like to build a pan-India presence with at least 5,000 kilometers under us."Ok thats all my friends.Take it easy