Sahara and Turner join hands to build infrastructure [10 February 2012]

Sahara Prime City, the real estate arm of Sahara India Pariwar joined hands with the US-based Turner Construction Company and Acropolis Capital Group, an investment firm. With an investment of $100 million, the three-way partnership has floated a joint venture company – Sahara Turner Construction Ltd.
Sahara Turner Construction, which will provide integrated construction services in India, 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 Limited will reach $ 25 billion over the next 20 years of which $ 2.5 billion will be completed over the next 5 years. Sahara Turner Construction Limited will be the preferred contractor for the execution of this entire volume of work.
The JV company 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.
Speaking at the launch of the JV company, Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar said, “This joint venture is the coming together of people who believe in providing the best available international quality and technology to India. We will offer the most effective solutions and services to the Indian real estate and infrastructure sector”.
The company also 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. Turner is America’s largest building construction contractor having experience of working in almost 60 countries. “Sahara Turner Construction aims to be number one infrastructure development company in India”, Mr. Roy adds.
Nicholas E. Billotti, President & CEO, Turner Construction International said, “We look forward to making a significant contribution to the construction market in one of the world’s fastest growing economies”.

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