McNally Bharat ties up with Russian, Austrian Cos

New Delhi, June 22: Engineering firm McNally Bharat Engineering Company Ltd today announced that it has entered into agreements with Moscow-based TYAZHPROMEXPORT (TPE) and VAI POMINI of Austria for participating in the modernisation and expansion of steel plants in India.

''With signing of these new agreements, the company's area of operation, turn over and profitability are expected to improve considerably,'' a company statement said here.

The company shall also be able to participate in certain specific areas of steel sector modernisation, the estimated value of such market is Rs 7,000 crore, it added.

UNI