New Delhi, Apr 18 (UNI) Real estate major Ansal Properties and Infrastructure Ltd today said it has signed a shareholder's agreement for a Joint venture with UEM Builders.
This JV company will initially have an authorised capital of Rs one crore divided into Rs 10 lakh ordinary shares of Rs 10 each and a paid up capital of Rs 50 lakhs, a statement said.
UEM Builders is a subsidiary of Malaysia's largest conglomerate, The UEM Group.
''The new firm will be known as UEM Builders - Ansal API Contracts Pvt Ltd, and will be a Indian Construction company formed for the purpose of carrying out building, construction and engineering activity work for Ansal API's projects across the country,'' the statement added.
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