DLF, GPL sign MoU for joint venture

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Hyderabad, Jan 17 (UNI) Real estate major DLF Limited today signed a Memorandum of Understanding (MoU) with city-based Gayatri Projects Limited (GPL) to set up a 50:50 joint venture (JV) for developing roads and highway projects, worth Rs 1000 crore, in the country every year.

The JV would help both the firms to synergies their financial resources and technical expertise in executing projects, secured from the National Highways Authority of Indian (NHAI), a company release here said.

The release also quoted GPL Managing Director Sandeep Reddy as saying ''the strategic tie up will help us expand our foot print nationally and unlock better value for our stakeholders. The collaboration will be a perfect fit to deliver infrastructure solutions to an emerging India.'' UNI BR AJ 1847

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