Lanco Infratech Ltd has announced that the Company entered into a Memorandum of Understanding with Gulftainer Company Ltd, UAE to co-operate on a variety of port and transportation projects.
The Company, one of the fastest growing corporate entities in India, has more than two decades of experience operating in the core sectors of Power Generation, Power Trading, Construction & EPC, Infrastructure and Property Development. With a proven record in integrated infrastructure development, LANCO constructs, develops and operates projects in power, roads and other infrastructure. At present, the power portfolio includes an operating capacity of 518 MW and additional capacities under construction aggregating to more than 3,400 MW. The construction and EPC wing has so far executed USD 500 million worth of projects and has an order book worth of nearly USD 2 billion.
Gulftainer Company Ltd is a leading port developer and operator and was established in 1976 in the Emirate of Sharjah in the United Arab Emirates. The Companys prime role is to manage and operate the container terminals in Port Khalid and also Khorfakkan on behalf of Sharjah Port Authority. Complimenting this work, Gulftainer also owns one of the largest heavy transport fleets in the United Arab Emirates, a container repair Company, a shipping agency which undertakes local ship / cargo agency work and actively pursues international port management opportunities.
Commenting on the development, Mr. L Madhusudhan Rao, Chairman, of the Company said This is a significant step and would enable Lanco to participate in the Port and transportation projects coming up for bidding. The agreement would synergise LANCOs strength in Infrastructure development with those of Gulftainer in development and operations of ports and other transportation projects.
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