IRCON signs MoU with Russian entity RZD International for joint development of Infrastructure projects

New Delhi, 15th May, 2020 (GNI):- Ircon International Limited [IRCON], a Miniratna (Category-I) Schedule – A Public Sector Enterprises has signed a Memorandum of Understanding with RZD International LLC, a subsidiary of state-owned Russian Railways Company to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.

According to MoU both parties have agreed to form a joint Indian – Russian working group. This group will look into ways of developing strong partnership to coordinate, plan and subsequently implement projects in the field of railways and other infrastructure, not only in India but also in countries of mutual interest.

The MoU was signed by Mr. Parag Verma, Chief General Manager ( Business Development ), Ircon International Limited and Mr. Sergey Stolyarov, Provisional Director General of RZD International LLC.

Commenting on the MOU Shri S. K. Chaudhary, Chairman & Managing Director, IRCON, said, “IRCON has been constantly looking to establish a strong partnership with the companies, wherein we can mutually benefit from our expertise. This MOU is a step towards building a long term business relationship which will help us to enhance our presence in different geographies’’, stated in the press release.

About Ircon International Limited (https://www.ircon.org) Ircon International Limited is a Miniratna (Category – I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company in the public sector known for quality, commitment and consistency in terms of performance. The core competence of IRCON is in Railways, Highways & Extra High Tension substation engineering and Construction. The company has executed projects operated in the areas of Railway construction including ballast less track, electrification, tunneling, signal & telecommunication as well as leasing of locos, construction of roads, highways, commercial, industrial & residential buildings and complexes, airport runway and hangars, metro and mass rapid transit system, etc. IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria and Sri Lanka).

About RZD International { https://www.rzdint.ru/}: RZD International LLC is a special purpose engineering company established within the Russian Railways (RZD) holding which offers the whole spectrum of railway construction services and technologies, from pre-feasibility studies to execution and commissioning of turnkey projects abroad. Ends