Maytas Infra Limited and Nagarjuna Construction Company Limited, two of India’s leading Construction and Infrastructure Companies, today announced that they have together entered into a partnership with Paschal-Werk G.Maier GmbH, which is one of the World’s leading Formwork (shuttering) Companies from Germany, to establish a factory in Vizag which will manufacture Formwork (Modular Shuttering Systems). The announcement was made at the ground breaking ceremony of the factory which was attended by the five proposed Directors of the new Company which included Mrs. Barbara R. Vetter (sole owner of Paschal-Werk G. Maier GmbH), Mr. Udo Vetter and Mr. M. Volz from Germany.

Mr. V. Radha Krishna from NCC and Mr. Sudeer Mareddi from Maytas represented the other two Indian partners along with Mr. A.R. Raju, Managing Director, NCCL and Mr. Teja Raju, Vice Chairman, Maytas Infra.

All three companies have come together to form a new company under the name of Paschal Form Work (India) Pvt. Limited where in Paschal-Werk G.Maier GmbH will have a 70% stake with Maytas Infra Limited and Nagarjuna Construction Company Limited will have a stake of 15% each. The Formwork (Modular shuttering system) produced here will help in bringing a systematic approach in the construction industry and will make work at building sites much easier, economical, safe and advanced.

Mrs. Barbara R. Vetter, sole owner of Paschal-Werk G. Maier GmbH, said, “Your success is our pleasure – quality links – these are the slogans and guidelines of PASCHAL to render various kinds of concrete form to the Indian construction market. PASCHAL is convinced to match the output of the proposed new factory with the needs of the construction industry for the right concrete forming technology together with Maytas Infra and NCC.”

Commenting on the association, Mr. PK Madhav, CEO, Maytas Infra said, “This is a pioneering step in the construction industry and we at Maytas Infra are happy to be partnering with an expert like Paschal for the initiative. The market and requirement for Formwork in India is huge and with this Factory we are hoping to take the Indian construction industry to the next level.”

Mr. V Radha Krishna, Associate Director, NCC said, “It is the first time in India that Modular Shuttering Systems will be produced and with Paschal’s advanced technology and proven expertise 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.”

Sourced From: Perfect Relations Limited

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Maytas Infra & NCC signs PDA with IDD
• Maytas Infra to construct All Weather Deep Water Port
• Satyam to invest $1.6 bn in Maytas firms
• Rajus pledged entire stake to lenders: Maytas
• Maytas may bag Bhutan hydropower project