Infrastructure company, Marg Ltd said it signed a memorandum of understanding (MoU) with Spain-based PYCSA Infraestructuras SL to develop urban and rural infrastructure projects. The companies will create a special purpose vehicle to bid for projects. No financial details were provided.
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.
The Chennai-based company would also invite PYCSA for providing technical consultancy for its own projects in the water management domain.
On Tuesday, Marg shares declined 0.4% to Rs199 on the Bombay Stock Exchange, while the benchmark Sensex closed flat at 20,345 points.
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