India's state-run Engineers India Ltd (EIL) and Tata Group have signed a memorandum of understanding (MOU) to float a 50:50 joint venture company to undertake engineering, procurement and construction contracts. The two partners plan to form a joint venture for executing engineering consultancy and construction projects in India and overseas, subject to approval of the MOU from the petroleum ministry. The joint venture will commence with an initial authorized capital of Rs. 15 crores, of which Rs. 10 crores will be paid up equity.
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Wednesday, December 12, 2007
EIL and Tata Group in JV to execute domestic and overseas EPC contracts
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