Ansal Properties & Infrastructure has
signed a shareholder's agreement for a joint venture with UEM Builders, a
subsidiary of UEM Group.
The proposed company 'UEM Builders-Ansal
API Contracts' will be an Indian construction company formed for carrying
out building, construction and engineering activity work for Ansal API's
projects, across the country. The new firm will initially have an authorised
capital of Rs.10 million, divided into 1 million ordinary shares of Rs.10 each
and a paid-up capital of Rs.5 million.