NCL Industries has signed an agreement to establish a Joint Venture (JV) company with Qingdao Xinguangzheng Steel Structure Company, China for manufacture of Pre-engineered Steel Structures in India. The Board has approved the proposal to incorporate a Joint Venture Company pursuant to the Agreement.
In terms of the agreement, NCL and the Chinese Partner will hold 70% and 30% respectively of the equity of the Joint Venture Company. The estimated project cost for the venture is around Rs 35 crore and the equity investment of NCL in the Joint Venture will be in the range of Rs 7.70 crore.
NCL Industries is an India-based company that operates in five segments: Cement, Boards, Prefab structures, Hydel Power and Ready Mix Concrete. The company was incorporated in 1979, a part of NCL Group. The company is also in the business activities of Cement, Prefab, Boards, Energy, Ready Mix Concrete Division.