Another global major is getting into the thick of acquisitions in Indias booming real estate and construction market.UKs Laing ORourke,a $5bn infrastructure major,and Delhi-based DLF has set up a JV with an initial corpus of Rs 500 crore.Apart from participating in upgradation of airport infrastructure,the JV will take up projects in housing, retail,highways and power.Plans are also a foot to float a $1.5bn infrastructure fund by 07 to finance BOT projects to the undertaken by the JV.Announcing the 50:50 JV, Rajiv Singh,vice-chairman,DLF Universal,said the JV is looking at taking up construction projects worth over Rs 5,000 crore by 10.
To begin with, the JV will take up ongoing projects like malls in Noida and Gurgaon,commercial and residential complex in Delhi and Gurgaon ,and IT park in Banglore.One of the major ventures to be taken by the JV,DLF Laing ORourke,in cludes participation in the upgradation of the airports." We will look at opportunities involved in construction of airports," Ray ORourke,CEO,Laing ORourke said.The DLF group,which was one of the bidders for the Delhi and Mumbai airport upgradations, is keen to paticipate in the upgradation of the Kolkatta and Chennai airports. |
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| Posted : 2/2/2006 |
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