Tata Group, Engg India JV awaits cabinet nod

摘要

THE proposed marriage between the Tata Group and public sector Engineers India to set up a global infrastructure construction firm is now a waiting cabinet nod Tata Group company Tata Projects Ltd (TPL) and Engineers India plan to incorporate a firm under 50:50 joint venture to undertake oil and gas and power projects in India and abroad. "The government has received a proposal of Engineers India for setting up a 50-50 joint venture with a Tata Group company.The matter is being referredto the cabinet as Engineers India's board is not empowered to take the decision," an official in the government said. It is learnt that the administrative ministry has given its nod to the tieup and a cabin et nod to the proposal is expected soon.