Sahara India launches JV with Turner Construction

Subrata Roy

India’s leading business conglomerate Sahara India  on Thursday announced joint venture with US-based German firm Turner Construction to provide all the business solutions related to infrastructure industry in India with Sahara holding 63 per cent state in the new venture. 

Announcing the joint venture company ‘Sahara Turner’ with world’s top construction company at a gala ceremony in Mumbai on Thursday, Subrata Roy, Managing Director and Chairman of Sahara India Pariwar, said that company will scale new heights in the real estate business.

The chief guardian of Sahara India further said that the Sahara Tuner will provide all the business solutions related to infrastructure industry to its clients. He also made it clear that Sahara India Pariwar will also be a one of the clients of Sahara Turner.

Under the flagship of Sahara Turner, Roy also promised to change the image of the country with high quality of constructions of houses.

Sahara India will have 63 percent stake in the Sahara Turner and rest will stay with Turner brothers, he said.

Speaking on the occasion Subrata Roy said that it is the first time in the 35 years long history of Sahara India Pariwar that the company has entered into a partnership. "We are happy that our first partner Turner Construction is a name to reckon with in the world with a glorious history of more than 200 years."

Peter J Davoren, President and Chief Executive Officer Turner Construction, said that he was humbled by the fact that Turner is partnering with Sahara, a company in which millions of people repose their faith, Sahara India’s online portal samaylive reported.

"It takes many years to build culture which is as important as the technical aspect of a company. We are happy that we are partnering with Sahara, a company based on robust corporate culture," he said.

Referring to JV Roy said that it took more than three years and numerous meetings, exchange of facts and figures to arrive at this marriage. A marriage which starts with clarity and transparency has potential to go long, he added.