Lanco Infratech signs MoU with Gulftainer
Lanco Infratech signs MoU with Gulftainer >Lanco Infratech entered into a memorandum of understanding with UAE based Gulftainer Company to co-operate on a variety of port and transportation projects. Lanco Infratech is engaged in power generation, power trading, construction and EPC, infrastructure and property development. The construction and EPC division has so far executed USD 500 million worth of projects and has order book worth of around USD 2 billion. Gulftainer, established in 1976 is a leading port developer and operator. It is engaged in managing and operating the container terminals in Port Khalid and also Khorfakkan on behalf of Sharjah Port Authority. Gulftainer also owns one of the largest heavy transport fleets in the United Arab Emirates, a contai ner repair Company, a shipping agency which undertakes local ship and cargo agency work. The MoU will help the company in participating in the port and transportation projects coming up for bidding. The agreement would synergise LANCO`s strength in Infrastructure development with those of Gulftainer in development and operations of ports and other transportation projects.
Shares of the company gained Rs 4.45, or 1.43%, to settle at Rs 316.4. The total volume of shares traded was 484,318 at the BSE.(Monday)
