MARG to collaborate with Spanish infra firm

MARG Limited, a Chennai-based infrastructure company, today announced the signing of a Memorandum of Understanding (MoU) with PYCSA Infraestructuras S.L., a Spain-based company.

As part of the MoU, the two companies will collaborate with each other as well as with other companies already working with PYCSA, to jointly develop urban and rural infrastructure projects. The partners will also look at floating a special purpose vehicle (SPV) to bid for projects.

The MoU was signed in the presence of Camilo Fernandez Iglesias, managing director, PYCSA Infraestructuras S.L. and GRK Reddy, chairman & managing director, MARG group.

Reddy said that in order for MARG to fully capitalise on the opportunities in infrastructure sector in the near and mid-term, the company was looking for strategic partnerships. The parnership with PYSCA was part of this strategy. “Their expertise in various infrastructure verticals is already proven,” he said.

 

With this, MARG and PYSCA will bid as a consortium for public and private projects in water management, transport infrastructure, environment engineering and related sectors, first in India and later in other mutually agreed upon geographical areas, Reddy said in a release.

MARG would also invite PYCSA for providing technical consultancy for its own projects in the water management domain.

“On successful award of contract in a project, both MARG and PYCSA will incorporate an SPV, wherein equity participation of each party will be subject to the relevant bid / tender document. While MARG would provide business development, administrative, supervisory and financial support to the project, PYCSA would provide technical knowhow, technology inputs, relevant contacts and experts,” the press release added.