The Hinduja Group has signed a Memorandum of Understanding (MoU) with OHL, a Spanish concession and construction multinational, for the joint development of infrastructure projects in India and other geographical areas of interest to both groups. The MoU was signed today by Ashok Hinduja, Chairman of the Hinduja Group in India and Juan-Miguel Villar Mir, Chairman of the OHL Group during Spanish King Juan Carlos’ official visit to the city.
Hinduja said "The joint venture is set within the Hinduja Group’s strategy of participating in the development of infrastructure projects in India, an activity that has been opened up to the private sector through public private partnerships.”
Earlier, in his speech at the luncheon meeting King Juan Carlos' said India is now an important strategic partner of Spain. The depth and quality of bilateral ties provide a firm foundation on which to build a new era in relations between two countries. He called upon Indian investors to invest in Spain which enjoys an important geo-strategic position as a member of the European Union, acting as a stepping stone to facilitate good relations with Latin America and Africa.
King Juan Carlos' informed that Spain was currently undergoing a complex economic crisis but its far reaching economic policy measures have already begun to bear fruit by improving productivity and competitiveness and the growth pattern of exports of goods and services. According to the King, Spain's balance of trade will present a significant surplus in 2012.
