MARG JOINS HANDS WITH LAGAN CONSTRUCTION
~ Both companies to explore opportunities together in India and Overseas construction projects ~
Chennai, January 13, 2011: MARG Limited, India's fastest growing integrated infrastructure company, today announced the signing of a MoU (Memorandum of Understanding) with Ireland based construction major Lagan Construction. As part of the MoU, both the companies will collaborate with each other, to strengthen the development on constructions of Roads, Airports, Marine structures, Water & Sewage Treatment Plants in India. The MoU was signed in the presence of Mr. Richard Jones - International & Airports Director, Lagan Construction and Mr. GRK Reddy, Chairman & Managing Director, MARG Group.
Ireland based construction major Lagan Construction is engaged in the business across various sectors like Road, Airports, Water, Energy and Rail to strengthen MARG's Presence across globe.
Speaking on the occasion, Mr. GRK Reddy said, "It gives me immense pleasure to join hands with Lagan Construction. LAGAN has had renowned projects worldwide to its credit and I am honoured that they chose to enter the Indian market through MARG. India has grown exponentially in terms of infrastructure and construction since last couple of years and at MARG, we have always been on the lookout for strategic partnerships that would benefit the market. With this alliance, we intend to enhance the technical knowhow of our EPC initiatives."
Henceforth MARG and LAGAN Construction will discuss potential co-operation for the joint undertaking for relevant public and private projects in same sectors, which would be mutually agreed upon. Lagan will provide technical expertise for the same.
ABOUT MARG LIMITED
MARG Limited (BSE: 530543), incorporated in 1994 and headquartered in Chennai, is an infrastructure, real estate development and services company. The Company is listed on the Bombay Stock Exchange and its shares are traded on the NSE under the category of 'Permitted Security'.
MARG's businesses are organized under 4 distinct business verticals – Marine Infrastructure & Services, Urban & Industrial Infrastructure, EPC and Real Estate. MARG is strategically developing greenfield ports on the Eastern Coast of India. The Karaikal Port is currently operational with a capacity of 5.2 MMTPA (Million Metric Tonnes Per Annum) and phased expansion is underway to eventually scale up to 47 MMTPA. The Company has also been awarded a contract to develop a Minor Port cum Ship Repair Yard at Mugaiyur. In addition to marine infrastructure, MARG also offers related services such as dredging and logistics. MARG Swarnabhoomi, the Company's flagship project in Urban & Industrial Infrastructure, is being developed as an inclusive city based on the principles of New Urbanism, with unique offerings for Business, Living & Learning.
The Company's EPC division provides integrated turnkey solutions for Greenfield and Brownfield projects pan-India serving clients such as L&T, BHEL, Indian Oil, HP among others. MARG's Residential Real Estate business, under the umbrella brand MARG ProperTies, offers homes across multiple segments with focus on affordable housing. Malls, IT Parks and Office Spaces constitute the Company's Commercial Real Estate business. MARG is also expanding its sectoral presence with Airport projects in Bellary and Bijapur and a Multi-Level Car Park (MLCP) in Chennai.
The Company, currently employing over 1000 people, is ISO 9001: 2008 certified for carrying out activities in planning and development of commercial, residential and turnkey projects. MARG Ltd. and/or its subsidiaries have offices in India, China and Singapore.
About LAGAN CONSTRUCTION
Lagan Construction established in 1962 has grown organically as a leading civil engineering business consultant. Having more than 45 years of experience across Ireland, UK and many other markets, the organization is now internationally undertaking infrastructure, capital and maintenance projects through a variety of procurement routes for public and private organizations.
Lagan Construction has contracts in construction of airports, roads, water, energy, marine and rail sectors. The company operates globally undertaking the full scope of civil engineering construction works, from highways to airports, to ports and harbours, to major structures and water related infrastructure. It has particular expertise in the construction of Airport pavements and aprons.Reconstruction and expansion projects at operational airports
Lagan Construction now plans to enter the Indian market for upcoming projects in the infrastructure especially for airport development/ expansion projects throughout India where construction of runways/ taxiways/aprons are an integral part of the airport project.
More information on MARG is available on http://www.marggroup.com
For further information contact:
|K. Ravishankar / Usri Sen
M: +91 93828 87608 / 99402 41521