 "A labourer works on the construction site of a residential building in Mumbai")
RPP Infra Projects Ltd has signed a definitive agreement with HUNAN Construction Engineering Group Corporation for infrastructure projects in India.
A Joint Venture has been formed with HUNAN, one of the largest state-owned companies in China, to collaborate under the name of HUNAN-RPP JV.
HUNAN will act as a lead partner of the JV to make all necessary statement on behalf of JV.
"Performance guarantees, advance guarantee or any such other bonds, securities shall be provided by the lead member of the JV," said RPP Infra in a statement.
Arul Sundaram, chairman and managing director, RPP Infra Projects commented that the idea behind the JV is to capture big size orders and profitable business in infrastructure sector in the fastest growing emerging markets like India.
The JV will also provide strength and opportunity to RPP infra Projects to negotiate better profitable terms with parties. He noted, today the company has a strong footfold in mid size orders in southern states and with this JV it will start bidding big size orders with HUNAN expertise.
