Ansal API enters in JV with UEM Builders

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.

UNI BJR SR KN2020