In a move to broaden its presence, Tulip Infratech, a real estate company, has announced its entry into infrastructure development. On Wednesday, the Gurugram-based company signed a joint venture with China-based CCTEB (China Construction Third Engineering Bureau) to develop strategic infrastructure in India.

Praveen Jain, CMD, Tulip Infratech. said the company had been in talks with the Chinese conglomerate for a long time and was waiting for the right time to enter the market. “We are determined to provide superior quality development and maintain consistency in our work. Teaming up with China Construction is not only to build, but also to maintain infrastructure projects as the company as rich expertise in this area”, he added.

This would be Tulip Infratech’s first collaboration with a foreign company.

“We have 12 years experience of working overseas and what we have learnt so far is that if you have to succeed in the local market, you need to have a reliable local partner. After the talks, we realised that Tulip had real sincerity”, said Cheng Chiming, Chief Representative, India branch of CCTEB.

To begin with, Tulip will be focusing on three areas -- infrastructure, affordable housing and high-rise buildings.

“The Tulip group can bring full understanding of the Indian market and will help with the expertise in the infrastructure department and machinery”, said Jain.

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