Kernex Microsystems (India) has received approval for Joint Venture (JV) agreement with Vasistha Constructions for execution the TCAS Project against South Central Railway's tender application.
The 80% shareholding in the proposed JV will be held by Kernex Microsystems (India) and 20% by Vasistha Constructions. The Board of Directors of the Company at its meeting held on April 16, 2019 has approved the same.
Kernex Microsystems (India) is engaged in the business of manufacturing, installing and maintaining of anti-collision systems as well as conceptualizing, designing, and developing certain railway safety and signal systems for Konkan Railways Corporation.
