MARG Const forges association with Pembinaan Redzai

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MARG Const forges association with Pembinaan Redzai

MARG Constructions forges association with Pembinaan Redzai Sdn Bhd, Malaysia for development of its Karaikal Port project

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Karaikal Port Private Ltd (KPPL), a wholly owned subsidiary of MARG Constructions Ltd signed a Memorandum of Understanding with Pembinaan Redzai Sdn Bhd, a leading Malaysian entity, to explore potential co-operation on a variety of areas for the Karaikal Port project.

An experienced port operator, Pembinaan Redzai Sdn Bhd will take the mandate of providing the KPPL team with strategic management and operational expertise to develop Karaikal Port into a leading port in the area.

Pembinaan Redzai Sdn Bhd and MARG Constructions Limited are proposing to form a joint venture to operate the Karaikal Port through a newly incorporated Port Management Company ("PMC") which will enter into an operation and management contract with KPPL for the period of the Concession awarded by the Government of Puducherry.

Speaking on the occasion, Mr. G R K Reddy, Chairman & Managing Director, MARG Constructions Limited said, "The association with Pembinaan Redzai Sdn Bhd reaffirms our intent to build the Karaikal Port as the finest port on the east coast of India. This port will unleash the potential of Tamil Nadu's hinterland and transform the economic landscape".

Mr. Reddy further added, "With Government of India driving the nation's growth through an export led strategy, this new association presents an enormous range of potential benefits to the MARG group and to our country".

The PRSB official spokesperson said, "We are pleased to be given this opportunity to explore collaboration with MARG Constructions Limited and look forward to working together to develop the Karaikal Port".

Sourced From: Hanmer & Partners Communications Pvt. Ltd