Mumbai, Feb. 17 -- According to an exchange filing, the proposed joint venture company (JVCo) will undertake engineering, procurement and construction (EPC) projects in high voltage (HV), extra high voltage (EHV) overhead transmission lines, substations and underground cabling in Saudi Arabia. The JVCo will execute projects based on successful bids.

Bajel Projects will hold 50% of the equity share capital of the JVCo, while the remaining 50% will be held by Al-Sharif Contracting & Commercial Development Co. Ltd. The board of the JVCo will comprise an equal number of nominees from both partners. Post incorporation, the JVCo will be classified as an associate of Bajel Projects.

Each partner will initially invest up to SAR 1 million (appro...