Foreign Infrastructural Tie-ups
Indian Real Estate: German Precision For Indianbulls
Indiabulls Real Estate and Zublin International GmbH a subsidiary of Strabag SE have put their signatures on a Memorandum of Understanding for joint work on large infrastructure development projects in India.
With Indian economy going from strength to strength it is becoming evident that the countrys infrastructure needs massive overhauling and improvement to keep up with fast growth a fact that offers immense development opportunities to builders and developers alike.
Informing the Bombay Stock Exchange Indiabulls confirmed together with the German firm a special purpose vehicle for executing these projects would be set up.
Considered one of Europess main construction group Strabag Group has a 53000 strong employee headcount including making an euro 10billion turnover in 2006. Strabag Dywidag HeilitWoerner and Zublin are some of the other brands the German firm also works under.
And in January this year Strabag SEs Munichbased subsidiary Dywidag International GmbH a leading international consortium bagged Delhi Metro Rail Corporations contract for constructing a new 3.2km tunnel including two new underground stations.
The tieup caused Indiabulls Real Estate shares to jump 6 cent on the BSE.
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Source: IndiaRealEstateblog
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