With Indian economy going from strength to strength, it is becoming evident that the country's 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 Europes's main construction group, Strabag Group has a 53,000 strong employee headcount, including making an euro 10-billion turnover in 2006. Strabag, Dywidag, Heilit+Woerner and Zublin are some of the other brands, the German firm also works under.
And, in January this year, Strabag SEs Munich-based subsidiary, Dywidag International GmbH, a leading international consortium, bagged Delhi Metro Rail Corporation's contract for constructing a new 3.2-km tunnel, including two new underground stations.
The tie-up caused Indiabulls Real Estate shares to jump 6% cent on the BSE.
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Source: IndiaRealEstateblog
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