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Wednesday, Sep 13, 2006

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Punj Lloyd jt venture with Swissport

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New Delhi, Sept. 12

Punj Lloyd Ltd (PLL) has entered into a joint venture with Swissport International to develop projects in the domestic ground-handling sector. An official statement issued here on Tuesday states that the Punj Lloyd is to hold a 49 per cent stake in the joint venture with the remaining stake being held by Swissport International. "The joint venture is a significant business opportunity that will open up new avenues for developing Swissport International's core competencies in ground handling in India and enable us to serve this market with the same high quality standards that we provide all around the world," the President and Chief Executive Officer, Swissport International, Mr Joseph In Albon, said. "The joint venture will enable Punj Lloyd to enter into a new business field in the aviation sector in India, which has robust growth opportunities," the Chairman, Punj Lloyd Ltd, Mr Atul Punj said.

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