IL&FS Engineering & Construction Company (IECC), formerly known as Maytas Infra, today said it has joined hands with Saudi Arabia-based infrastructure conglomerate Saudi Binladin Group (SBG) for manufacturing precast construction products in India.
SBG and IECC are intending to bring to India precast construction technology and processes, which would enable reshape building technologies and help in faster and more cost-effective solutions to the local industry, the company said in a statement.
This would be in synergy with the various mega township projects being developed by the IL&FS Group--Gujarat International Finance Tech (GIFT) city, Industrial Model town project with Reliance in Harayana and the Mangalore SEZ project in Karnataka, it said.
SBG and IECC are working together to finalise the modalities, including location of the project, detailed feasibility and capital structure for the project.
This venture would provide a fillip to IECC's construction business from a technology and product offering perspective across a wide array of building sectors, the company said.
