New JV to engage in EPC project business in infrastructure sector
Vindhya Telelinks has entered into a definitive joint venture agreement with Visabeira Global SGPS., SA, Republic of Portugal.The new company to be incorporated in India named 'Birla Visabeira' will engage in EPC project business in telecommunications, energy, renewable energy and other infrastructure sectors in India and other territories as mutually agreed.
As per the agreement, the Company along with its affiliates will hold 51% shares in the paid up equity share capital of the new JV company with the remaining 49% held by Visabeira Global SGPS., SA.
The JV is expected to be operational by end of October 2015.
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