HCC Infra, OCI sign MoU

HCC Infra, OCI sign MoUOn Tuesday, HCC Infrastructure (HIL) said that it has signed a Memorandum of Understanding (MoU) with another construction company. The name of this is Orascom Construction Industries (OCI).

The two have come together to be able to bid together for a road development project that is to be done under NHAI. NHAI is the top government body when it comes to developing infrastructure projects in form of roads and highways.

While HCC Infrastructure is a 100 per cent subsidiary of HCC or Hindustan Construction Company, OCI is owned by a Middle-East company. OCI is into the business of construction contract.

In a press release issued by both the companies together, they said that while on the short-term like now, they will go for bidding together, the plans are even more for the future. They said that the two are looking forward to build a portfolio of infrastructure assets in India.

Talking about this, Ajit Gulabchand, Chairman of HCC said that since the government has allowed for more PPP projects, HCC has been looking for partners. To be able to use the opportunity for its benefit, HCC is tying knot with OCI.