In order to tap the booming construction sector, Europe's leading infrastructure group, Strabag SE, has joined hands with Indiabulls Real Estate Ltd [Get Quote] for working on large development projects in the country.The real estate arm of the Indiabulls [Get Quote] group has entered into a Memorandum of Understanding with Zublin International GmbH, a subsidiary of Strabag SE for consolidating their resources, experience and jointly work on large infrastructure development projects, Indiabulls Real Estate said in a communique to the Bombay Stock Exchange.
Strabag group is one of Europe's leading construction group with nearly 53,000 employees and a turnover of more than 10 billion Euros in 2006. Strabags' four main brands are - Strabag, Dywidag, Heilit+Woerner and Zublin.
Earlier in January this year, Strabag SEs Munich-based subsidiary Dywidag International GmbH, leading an international consortium, had bagged a contract from Delhi Metro Rail Corporation for constructing a new 3.2 km tunnel and two new underground stations.
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