December 03, 2008

Nagarjuna and Maytas Infra inks JV with Paschal Werk

Nagarjuna Construction Company Limited and Maytas Infra Limited jointly announced that they have entered into a partnership with Germany based Paschal Werk G Maier GmbH to establish a new company under the name of Paschal Form Work (India) Private Limited, wherein Paschal Werk G Maier GmbH has a 70% stake with Nagarjuna Construction Company Limited and Maytas Infra Limited having a stake of 15% each. The factory would be set up in Vizag to manufacture formwork.

Mr V Radha Krishna associate director of Nagarjuna Construction said that "It is the first time in India that modular shuttering systems will be produced and with Paschal's advanced technology in this area, we will not only impact the construction industry in urban areas but also help in speeding up the development in the rural areas."