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IVRCL forms JV with Spain firm for chennai

the IVRCL Infrastructures and Projects of Hyderabad has entered into a joint venture agreement with Spain-based Befesa, a holding company of INA Bensa, to bid for the Rs 800 crore water desalination project in Chennai on build-operate-transfer (BOT) basis. Ramachandran said the company has a 50:50 equity partnership for the desalination project. Currently, Chennai city needs 80 MLD and there is not enough sources to satisfy the needs of the city. The bids will be awarded by April-end.