Gulftainer sign strategic agreement with LANCO Infratech

18 Sep 2007

At a recent signing ceremony, Gulftainer Co. Ltd. reached an agreement with the LANCO Group of India to co-operate on a wide variety of port and transportation projects.

LANCO Infratech Ltd (LITL), one of the fastest growing corporate entities in India, has more than two decades of experience operating in the core sectors of Power Generation, Power Trading, Construction & EPC, Infrastructure and Property Development.

With a proven record in integrated infrastructure development, LANCO constructs, develops and operates projects in power, roads and other infrastructure. The construction and EPC wing has so far executed USD 500 million worth of projects and has an order book worth more than nearly USD 2 billion. Notably nearly all the construction and EPC works are done for LANCO's power and infrastructure projects.

Peter Richards, director and general manager of Gulftainer commented, "We are delighted that we have reached an agreement that will allow Gulftainer's acknowledged container terminal and transport logistics expertise to be linked with a company of stature, reputation and resources."

"We are already assessing specific projects in the Middle East, India and the Eastern Mediterranean worth close to USD 1 billion."

"The two groups working together can really make an impact on projects in the expanding and exciting port and transport field - as between us we have the ideal synergy, resources and determination. This will take Gulftainer's development plans on to the next level."


Signing on behalf of LANCO was Mr. G. Venkatesh Babu, managing director and Mr. Peter Richards, Gulftainer director and general manager both of whom are pictured on the above photograph.


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