Date:30/08/2005 URL: http://www.thehindubusinessline.com/2005/08/30/stories/2005083003521900.htm

Back IDEB Construction signs MoU with Chinese major

Our Bureau

Bangalore , Aug. 29

IDEB Construction Projects Pvt Ltd has signed an MoU with Shanghai Urban Construction Group Ltd for taking up large infrastructure projects such as the construction of bridges, roads, tunnels, highways and Metro Rail in India. Shanghai Urban Construction is one of the largest construction companies in China with a turnover of $1.6 billion.

The official spokesperson of Shanghai Urban Construction said, "We see tremendous growth potential in building infrastructure. With the Indian economy on the rise, we are looking at ways to complement our expertise. In IDEB Construction, we found a befitting partner due to their expertise and their growth potential for quality."

Mr Harkirat Singh Bedi, Managing Director of IDEB, said, "The business collaborations with Shanghai Urban Construction will strengthen economic ties with a country like China and help promote a robust two-way business relationship that leads to great economic integration."

IDEB, with a turnover over Rs 200 crore, has already undertaken major projects such as a water supply project, bridges on National Highway 4 & 5, Delhi Metro Line and the construction of the PP Line & Cooling Tower at Reliance Petrochemicals, Jamnagar. It has also undertaken projects such as the Sigma Malls & Sigma Soft Tech Park and residential development in Bangalore.