State-owned Ircon International Limited (Ircon), a Miniratna firm, has signed a Memorandum of Understanding (MoU) with RZD International LLC., a subsidiary of government-owned Russian Railways Company, to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.
Commenting on the MoU, S. K. Chaudhary, Chairman & Managing Director, Ircon, said, “Ircon has been constantly looking to establish a strong partnership with the companies, wherein we can mutually benefit from our expertise. This MOU is a step towards building a long term business relationship which will help us to enhance our presence in different geographies’’.
According to the MoU, both parties have agreed to form a joint Indo-Russian working group.
“This group will look into ways of developing strong partnership to coordinate, plan and subsequently implement projects in the field of railways and other infrastructure, not only in India but also in countries of mutual interest,” said Ircon in a statement.
The MoU was signed by Mr. Parag Verma, Chief General Manager ( Business Development ), Ircon International Limited and Mr. Sergey Stolyarov, Provisional Director General of RZD International LLC.
