Indiabulls signs MoU with Zublin

New Delhi, June 15: Indiabulls Real Estate Ltd and Zublin International GmbH, a subsidiary of Strabag SE, have inked a Memorandum of Understanding to consolidate their resources and jointly work on large infrastructure development projects.

They have also agreed to set up a Special Purpose Vehicle (SPV) to execute these projects, a company statement said today.

Strabag Group is one of Europe's leading construction groups with nearly 53,000 employees and a turnover of more than 10 billion Euros in 2006.

UNI