BUSINESS

Emaar MGF ties up with Australian firm

Special Correspondent

NEW DELHI: Real estate developer Emaar MGF has tied up with Australia's largest project development and contracting firm Leighton Group to form an equal partnership joint venture construction company to design and develop projects in India. The joint venture company Leighton Construction India Ltd. will make an initial investment of $150 million to bring in latest technology and global expertise in design, construction and safety.

Making this announcement at a press conference here, Emaar MGF Executive Vice-Chairman and Managing Director, Shravan Gupta, said the joint venture company would help them in providing consistent quality standards and timely delivery of projects.

"The new company will execute projects worth over $2.5 billion in coming years", he added.

Emaar MGF, a joint venture between the Dubai-based Emaar Properties and MGF Developments, has various projects in the pipeline, mainly in North India.

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