State-owned Ircon International Limited (IRCON) has signed a Memorandum of Understanding (MoU) with RZD International L.L.C. (Limited Liability Company), a subsidiary of government-owned Russian Railways Company, to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.
i.The MoU was signed by Mr. Parag Verma, Chief General Manager (Business Development), Ircon International Limited and Mr. Sergey Stolyarov, Provisional Director General of RZD International LLC.
ii.According to the MoU, both parties have agreed to form a joint Indo-Russian working group.
iii.S. K. Chaudhary, Chairman & Managing Director (CMD), Ircon, added that Ircon has been constantly looking to establish a strong partnership with the companies for mutual benefit and this MOU is a step towards building a long term business relationship which will help them to enhance their presence in different geographies.
iv.This MoU will develop a strong partnership to coordinate, plan and subsequently implement projects in the field of railways and other infrastructure, not only in India but also in countries of mutual interest.
v.Ircon: Ircon International is a Miniratna (Category – I) Schedule A Public Sector Enterprise and a leading turnkey construction company in the public sector.
- Ircon International Limited, formerly Indian Railway Construction Limited (IRCON), is an engineering and construction organisation, specialized in transport infrastructure.
- The PSU (public sector undertaking) was established in 1976, by the Government of India (GOI) under the Company Act 1956.
- IRCON was registered as the Indian Railway Construction International Limited, a wholly (100%) owned entity of the Ministry of Railways.
Headquarters– New Delhi.
Chairman and Managing Director (CMD)– S.K. Chaudhary.
About RZD International LLC:
Headquarters– Moscow, Russia.
Director-General– Sergey Stolyarov.