NEW DELHI: Ircon International, a state firm under the Railways Ministry , is targeting turnover of Rs 5,000 crore in the current fiscal and vying for projects under the freight corridor and border areas connectivity, a company official said.

Ircon is constructing the country's longest rail tunnel in Kashmir. It is eying more such projects entailing construction of tunnels to provide connectivity in the border areas.

" We are targeting 70% of our revenues from railway projects over the next few years," said Hitesh Khanna, director (works), Ircon.

The company's order book as on March 31, 2011 stood at Rs 15,000 crore, while it had achieved a turnover of Rs 3,237 crore. The company has cash reserves of about Rs 1,200 crore.

Some of the important projects being executed by the company in India include construction of a 45 km railway line from Sivok, near Siliguri, to Rangpo in Sikkim. Built at a cost of Rs 3,500 crore, the line would be the first railway line in the state of Sikkim. Besides this, a 4.5km rail cum road bridge on the Ganga river is being constructed at a cost of Rs 1,200 crore which would be completed by 2014.