Stock Report

Bajel Projects announces strategic JV with Saudi Arabia's Al Sharif Contracting and Commercial Development Company

Posted On : 2026-02-17 22:49:55( TIMEZONE : IST )

Bajel Projects Limited, a leading player in the power transmission and infrastructure sector, and a part of the Bajaj Group, today announced the signing of a landmark Joint Venture (JV) agreement with Al Sharif Contracting and Commercial Development Company (ASC). ASC is a part of Al Sharif Group Holdings and one of the leading EPC contractors & manufacturers. This partnership marks a significant milestone in Bajel's international expansion strategy, positioning the company to participate in the significant infrastructure transformation currently underway in the Kingdom of Saudi Arabia.

Strategic Structure and Scope

The Joint Venture is built on a foundation of equal partnership, between Bajel Projects Limited and Al Sharif Contracting and Commercial Development Company. The JV will be established specifically to undertake Engineering, Procurement, and Construction (EPC) business within Saudi Arabia, focusing on:

- High Voltage and Extra High Voltage (EHV) Infrastructure which also includes:

- Overhead Transmission Lines
- Substation Packages
- Underground Cabling Projects and more

The formation of this Joint Venture comes at a pivotal time as Saudi Arabia accelerates its Vision 2030 and beyond. The Kingdom is investing heavily in grid modernization, renewable energy integration, and interregional connectivity to support its burgeoning industrial and urban hubs. By combining Bajel's technical strengths in EHV execution with Al Sharif Group's deep regional expertise and market presence, the partnership is uniquely positioned to execute projects and be a partner for Saudi's utility and infrastructure companies.

Commenting on the Joint Venture agreement, Rajesh Ganesh, MD & CEO, Bajel Projects Limited, said: "The signing of this Joint Venture agreement with Al Sharif Contracting and Commercial Development Company is a defining moment for Bajel Projects as we strategically expand our presence outside India. Saudi Arabia is currently witnessing an unprecedented infrastructure surge. This partnership enables us to bid for complex, extra high-voltage inter-regional corridors and substations that are vital to Saudi Vision 2030 and beyond. BAJEL is excited and looking forward to contributing to the grand vision of the Kingdom".

Commenting on the agreement, Al Sharif Contracting CEO, Engineer Hussain N. Gardezi said: We are happy to conclude the agreement. The resources of two big players will be pooled together for development of infrastructure of Kingdom of Saudi Arabia. This is the need of the hour in line with vision 2030 and beyond of Kingdom of Saudi Arabia. Kingdom of Saudi Arabia plans to build one of the most sustainable transmission networks to connect abundance renewable energy to the load centers.

Shares of Bajel Projects Limited was last trading in BSE at Rs. 165.90 as compared to the previous close of Rs. 159.45. The total number of shares traded during the day was 7242 in over 235 trades.

The stock hit an intraday high of Rs. 169.20 and intraday low of 158.65. The net turnover during the day was Rs. 1187335.00.