New Delhi: Ansal Properties & Infrastructure Ltd and Malaysia’s UEM Builders Bhd have signed up a joint venture agreement for carrying out construction activities in India.

Pranav Ansal, director of Ansal Properties said that UEM will hold 60 percent in the venture that will primarily be involved in constructing activities in northern India.

Mr. ansal said that the companies will jointly invest around 1 billion rupees by next two years (2009).

“We get our work done from contractors as we don't build any building. This JV will provide us with better systems and better quality,” Ansal added.

The initial project, in Lucknow, will start immediately, he said.

A combined declaration from the companies stated that Ansal Properties has a land bank of 5,500 acres.

It added that UEM has been executing infrastructure projects in India since the 1990s, and currently involved in building around 700 kms of roads in the state.