Europe-based company forms Indian consortium to develop smart cities, low-cost housing

Fri, 2020-04-24 15:50 -- SCC India Staff

Europe-based company

A&M Development Group, Europe’s leading infrastructure development company, has announced that it will be establishing its office in India as Oberoi-A&M Infra-Consortium (under incorporation), and along with Polaris Energy Resources Inc (USA) will develop & construct mega projects in India – including low cost housing and smart cities – via the EPC + Finance model.

Oberoi-A&M Infra-Consortium will be looking towards infrastructural activities and contracts in the SAARC region for the Development / Construction & Finance via EPC + Finance business model in the priority infrastructural and development projects within India in low cost housing, roads, bridges, metro networks, international and domestic airports, hydroelectric & irrigation dams as well as smart cities.

Arch Khaled Sadek Egyptian / German (CEO & Director – Europe & North America), A&M Development Group, while making the announcement, said “We hereby affirm our readiness and willingness along with Polaris to mutually undertake (via EPC+F) engineering, procurement construction projects up to an initial value of $20 billion.”

A&M’s clients span the industrial spectrum, including diversified industrial, automotive & commercial vehicles, banking and finance, oil, water pipes and utilities. It will also be donating 10 per cent of its profits towards the PM Relief Fund in order to affirm their participation on the after math of the Covid-19 epidemic in India.

Inderjot Singh Oberoi, Director Oberoi-A&M Infra-Consortium India, said, “We affirm to support our projects with and through our financial capability from funds from overseas financial Institution partners. A&M International Development & Investment S.R.L”

“Considering the economic and political stability in India, we have decided to establish our SAARC Head Office in New Delhi. The office will be focused on executing infrastructure development projects, which are of priority to the Government of India,” added Sadek.