China's CCTEB partners Tulip for infra projects
New Delhi: China's leading construction firm CCTEB on Wednesday announced partnership with realty company Tulip Infratech to develop infrastructure and real estate projects in India as it sees huge opportunities in these sectors.
Tulip Infratech and China Construction Third Engineering Bureau Co Ltd (CCTEB) will jointly bid and develop projects in the country and target an order book of about Rs 20,000 crore in the next 2-3 years. Gurgaon-based Tulip has developed around 10 housing and commercial projects. CCTEB is a subsidiary of China State Construction Engineering Corporation.
"We have signed a cooperation agreement with CCTEB to undertake infrastructure and real estate projects," Tulip Infratech CMD Parveen Jain told reporters here.
He said the two companies will form a consortium to bid for such projects.