In a three-way partnership deal, Sahara Prime City, the real estate company of Sahara India Pariwar, along with the US' Turner Construction Company and Acropolis Capital Group, an investment firm, have floated a joint venture company – Sahara Turner Construction Ltd.
With an investment of $100 million (Rs 490 crore), Sahara Turner Construction will provide integrated construction services in India and will lead the construction of the chain of ‘Sahara City Homes' integrated townships and other projects of Sahara India Pariwar.
It is planned that the construction volume of Sahara Prime City Ltd will reach $25 billion over the next 20 years of which $2.5 billion will be completed over the next five years. Sahara Turner Construction will be the preferred contractor for the execution of this entire volume of work.
Third party projects
The venture will also pursue third-party building-construction projects, and shall aim to be a leading, multi-product, integrated construction services company, which covers the life cycle of building infrastructure and real estate projects.
The company plans to enter the development and ownership space of building infrastructure projects using the experience and qualifications of Turner, gained over 110 years of operations.
Speaking at the launch of the venture company, Mr Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, said, “This joint venture is the coming together of people who believe in providing international quality and technology to India. This venture will offer the most effective solutions and services to the Indian real estate and infrastructure sector.”