HCC Infrastructure inks MoU with OCI

MUMBAI: HCC Infrastructure (HIL) today inked a Memorandum of Understanding (MoU) with Orascom Construction Industries (OCI) for bidding and developing large NHAI (road) projects in India.

HCC Infrastructure is a 100 per cent subsidiary of Hindustan Construction Company (HCC) while OCI is a leading Middle-Eastern construction contractor.

HIL and OCI will also explore a broader scope of partnership with the intent of jointly creating a premium portfolio of infrastructure assets across different sectors in India, a press release issued here said.

HCC's Chairman and Managing Director, Ajit Gulabchand, said "the Indian Government has enhanced the pace of development of world-class infrastructure for India and has chosen PPP as the main tool to implement this. In order to participate in this grand programme, HCC has chosen to partner with OCI, a company in which we find a wealth of expertise and commitment to create quality infrastructure."

Orascom Construction's CEO and Chairman, Nassef Sawiria, said, "this joint venture will yield significant synergies for both groups. We look forward to exploring further opportunities with our new partner."