Punj Lloyd in JV with Germany's KAEFER
New Delhi, Aug 24 (UNI) Construction major Punj Lloyd Ltd today said it has entered into a joint venture with Germany-based KAEFER GmbH, to develop insulation solutions.
The company will hold 49 per cent stake in the JV.
Currently, the company's insulations executes insulation projects like cryogenic insulation for LPG and LNG terminals, hot and cold insulation for oil and gas sector, fertiliser plants, power plants and acoustic insulation.
The joint venture company Kaefer Punj Lloyd Ltd (KPLL) - will have three directors, two nominated by KAEFER and one by the company.
''Being a niche business, it will open up huge markets for KPLL in the booming Indian economy,'' company's Chairman Atul Punj said.
The agreement is a significant business opportunity, it will open avenues for developing innovative insulation solutions for various applications. Our services will range from thermal insulations to refractory linings, coatings, acoustics and fire protection, Mr Punj added.
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