Builder signs MoU with Shanghai firm

Bangalore-based IDEB Construction Projects has signed a memorandum of understanding (MoU) with Shanghai Urban Construction Group, the largest construction company in China with a turnover of $1.6 billion to take up large infrastructure projects like bridges, roads, tunnels, highways and metro rail in India.

Shanghai Urban Construction (Group) Corporation, established in October 1996 with the approval of Shanghai Municipal Party Committee and the government, is a comprehensive enterprise supported by the Ministry of Construction and Shanghai Municipal Government.

The 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 Constructions we found a befitting partner due to their expertise and their growth potential for quality."

Harkirat Singh Bedi, managing director of IDEB Constructions and Projects said, "IDEB has a vision to build world class constructions, be it in infrastructure, residential and commercial projects and we are delighted to have engaged in path breaking projects that provide quality services in property development."

He said, "The MoU with Shanghi Urban Construction and IDEB Construction will make use of the best of both expertise."

The IDEB Group commenced its operations in 1998 and has a turnover in of Rs 200 crore.

Constructions projects executed by the group include the Trichy Water supply project, Bridges on NH 4 & 5, Delhi Metro Line, PP Line & Cooling Tower at Reliance Petrochemicals Jamnagar, and Pawan Hans Helicopters for their Corporate office at Noida among others.

Some of its property development projects are Sigma Malls & Sigma Soft Tech park.