HCC ties up with Egyptian contractor for highway projects
By IANSTuesday, June 8, 2010
MUMBAI - HCC Infrastructure, a subsidiary of Hindustan Construction Company, Tuesday said it has tied up with a major Egyptian firm, Orascom Construction Industries (OCI), to jointly develop large national highway projects.
The company in a regulatory filing said it would seek to broaden the partnership with OCI other than bidding for projects on offer from the National Highways Authority of India (NHAI) and the two intend to create a portfolio of premium infrastructure assets across sectors.
“Both Hindustan Infra and OCI share the same commitment to quality and this joint venture will yield significant synergies for both groups,” said Nassef Sawiris, chief executive officer and chairman of OCI.
HCC Infra has a road portfolio of Rs.5,539 crore, including six NHAI projects, of which one is operational.
