NCL Industries to create JV with Czech Republic-based Moravia Containers

NCL Industries Ltd has signed a joint venture (JV) agreement with Czech Republic-based Moravia Containers for manufacturing modular containers and systems and other products.

As per the agreement, the Indian building material company and its affiliates will hold a stake of 74.9% in the joint venture company.

According to NCL Industries, its initial equity investment towards its equity share will not exceed INR 10 crores.

Moravia Containers has been manufacturing containers and modular constructions for more than 25 years.

On the other hand, NCL Industries, which is based in Hyderabad, manufactures cement under Nagarjuna Cement brand and cement bonded particle boards under the Bison Panel brand.

Recently, the company and its sister concern NCL Buildtek were issued letters of acceptance (LoA) of bids totaling INR 1,863.19 crores from the Andhra Pradesh State Housing Corporation (APSHC) for the Andhra Pradesh government’s housing scheme.