POSCO signs MOU with PNC Infratech

POSCO signs MOU with PNC Infratech

New Delhi, 16^th June 2014:  POSCO Engineering & Construction India, a wholly owned subsidiary of POSCO E&C Co. Ltd., Korea, signed a Memorandum of Understanding with PNC Infratech Ltd. on June 13, 2014 to jointly develop and execute infrastructure projects in India and neighbouring countries.

POSCO E&C and PNC Infratech will pitch for infrastructure projects with a special focus on dedicated rail freight corridors, high speed rail networks, personal rapid transport systems, smart cities, integrated townships, development of industrial regions and other core infrastructure projects.

Mr. In Hwan Ok, Chairman, POSCO Engineering & Construction India said, “We are delighted to partner with PNC Infratech for pursuing infrastructure projects in various key areas.  The proven capabilities of our two companies would give us an edge in bidding for major infrastructure projects in India and neighbouring countries.”

Mr. Yogesh Jain, MD, PNC Infratech Ltd said, “We have a good track record of successfully executing several infrastructure projects over the past two decades.  This partnership would enable us to bid for larger projects in several key areas where POSCO E&C would bring in world-class expertise.”

Huge investments are expected to be made in infrastructure development in the country in the years ahead, and the vast experience of POSCO E&C along with the local knowledge and skills of PNC Infratech, would give this alliance a strong competitive edge.

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About POSCO Engineering  & Construction India

POSCO E&C India Pvt. Ltd. is a wholly owned subsidiary of South Korean company, POSCO E&C Co. Ltd., registered under local laws of India, since March-2007.  Parent company, POSCO E&C Co. Ltd., is a general construction company established in December 1994, aiming to be a global engineering & construction company based on expert engineering technologies, know-hows, and man powers with skills and experiences from the integrated steelworks of POSCO Steel, Korea which has one of the world-wide competitiveness in ironworks.  www.poscoenc.in

About PNC Infratech Ltd.

PNC Infratech Limited is one of the infrastructure companies, engaged in construction of highways, runways, bridges, flyovers, power transmission lines, development of industrial estates and has an established track record of successfully executing several construction projects on time.

The Company has executed high value PPP and EPC turnkey projects for core organizations including National Highways Authority, Military Engineer Service (Ministry of Defence, Govt. of India), Airport Authority of India, Uttar Pradesh Power Corporation Limited, RITES Ltd., Madhya Pradesh Road Development Corporation Ltd. (MPRDC), Uttar Pradesh State Highways Authority (UPSHA), Haryana State Road & Bridges Development Corporation Limited (HSRDC) and Delhi Sate Industrial & Infrastructure Development Corporation Ltd. (DSIIDC) and Public Works Department of various State Governments. www.pncinfratech.com