C&C Constructions signs MoU with Isolux Corsan
C&C Constructions Limited, an infrastructure firm with interests in building bridges and roads, has signed an MOU with Isolux Corsan of Spain to jointly execute construction projects in the infrastructure space. The contract will help the Indian firm to take up projects in geographically diverse regions such as Asia, former Soviet Bloc (excluding Eastern European countries) and Africa.
The company said the MoU is only for contracts exceeding Rs500 crore in verticals of Roads, Airports, Specialized Buildings and Hospitals; and bridge contracts exceeding Rs300 crore.
Gurjeet Singh Johar, Chairman, C & C Constructions Ltd., said:"The MOU presents the Company with abundant opportunities and is in line with our objective of diversifying operations across verticals and expanding our geographical reach. We are optimistic of partnering with Isolux to extract maximum synergies and fundamentally strengthen and grow the Company’s business operations."
C&C Constructions has posted 12% increase in its sales figure from Rs283 to Rs317 crore in the third quarter. Its net profit after tax too grew to Rs10.87 crore from Rs8.09 crore last year.