Sahara group forms JV with Turner Construction, Acropolis Capital news
09 February 2012

Sahara India Pariwar today announced the formation of an integrated construction services joint venture with US-based Turner Construction International and Acropolis Capital Group.

Sahara will initially invest $100 million and will hold 63 per cent of the JV's equity while the other two partners will hold the remaining stake, Sahara Group chairman Subrata Roy said at a function in Mumbai today.

Sahara would raise its investment to $300 million later, he said, adding that the structure of the JV may also change.

The JV, to be called Sahara Turner Construction Ltd, plans to build projects worth $2.5 billion in India in five years, the partners said.

The joint venture also announced the launch of its first project, Sahara Prime City Ltd.

The plans were announced at a joint press conference by Turner Construction chief executive Nicholas Billotti and Sahara Group chairman Subrata Roy.





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Sahara group forms JV with Turner Construction, Acropolis Capital