Punj Lloyd joins hands with Swissport

Punj Lloyd Ltd has announced that the Company has entered into a joint venture with Swissport International, a world leader in the ground handling industry. The Company will hold 49% while Swissport will hold 51% stake in the joint venture. With India being one of the fastest growing markets in the entire aviation sector, Swissport sees a strong business potential in India.

Leveraging on Swissport's brand and know-how and the Company's local expertise, both partners will take advantage of this joint venture to develop projects in the Indian ground handling sector.

Commenting on the JV, Mr. Atual Punj, Chairman, of the Company, said, "This joint venture will enable Punj Lloyd to enter into a new business field in the aviation sector in India, which has robust growth opportunities. We are enthusiastically looking forward to developing our partnership with Swissport into a very successful business. Punj Lloyd is keen to bring world class ground handling facilities in India to service the rapidly increasing passengers and growing aircraft fleet of Indian carriers".

Source : Equity Bulls

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