Parsvnath inks MoU with Constructora SAN JOSE

Consortium to bid for Infrastructure Development works

Parsvnath Developers Limited India’s leading Infrastructure and Real Estate Developer has announced a Joint Venture with Constructora SAN JOSE, S.A., a subsidiary of Grupo SAN JOSE, a leading Infrastructure Development Company in Spain.

Under the terms of the contract, Parsvnath Developers Limited and SAN JOSE will hold equal equity in the consortium. The consortium will be known as The SANJOSE - PARSVNATH CONSORTIUM. As per the contract the JV Company will jointly bid for the upcoming infrastructure development works in the country in the fields of Transportation, Aviation, Power Generation and Transmission. The company would execute projects through floating project specific SPVs.

Commenting on the strategic partnership with SAN JOSE, Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited said, “Parsvnath’s proficiency in the Infrastructure domain has got further credence through this association. The partnership would bring sea changes in the infrastructure domain as SAN JOSE’S expertise over Infrastructure domain in international markets and Parsvnath understanding of the Indian markets along with efficient execution capabilities would help develop projects that stand at par with global standards.”

SANJOSE – PARSVNATH Consortium had submitted Request For Qualification (RFQ) to National highways Authority of India (NHAI) and has been qualified to submit the financial bid for the construction of an Elevated Expressway on NH-4. The contract valued at Rs 1220 crore, involves construction, Designing, Engineering, Financing, Procurement and operation & Maintenance of a 19 Km long 4-Lane elevated expressway between Chennai Port and Maduravoyal on NH-4

About Constructora SAN JOSE
Constructora SAN JOSE, S.A., a subsidiary of Grupo SAN JOSE, is a leading Infrastructure Development Company of Spain with a turnover of more than Rs. 8000 Crore. The company apart from development of Highways/ Expressways, Airports, Railways, Energy Generation & Transmission and Urban Planning, is also involved in several other infrastructure development works.

About Parsvnath Developers Limited
Parsvnath Developers is noted for its rapid pan India spread. It is the fastest growing real estate group in India. Parsvnath Developers is amongst the largest listed real estate companies in India. As of today, company is developing 114 mega projects spanning 211.32 million square feet in 51 cities and 18 states. Parsvnath Developers Limited through its subsidiary Parsvnath Hotels Limited is developing 8 five star, 2 four star and 3 three star hotels with a total number of 2040 rooms. PHL would also develop 2 serviced apartments.