L&T construction has been awarded a construction contract worth Rs. 300 crore by Mictrotek Infrastructures, a 50:50 joint venture between Action group and Okaya Power.
A contract is about a housing project spread over 14.6 acres in Gurgaon. The construction of the project comprising of 716 units has started and is expect to be ready by 2017.
The total project cost is estimated at Rs 450-500 crore and the same would be funded through internal accruals and bank loans.
Aluminium shuttering technology will be used in this project for smooth structures and durability.
Microtek Infrastructures has huge land bank in north India and is planning to develop more projects in future.
Action group has another realty venture ‘Sun City Projects’ apart from many other businesses like footwear, chemicals, power back up/inverters and healthcare and their partners Okaya Power is into battery and water purifier businesses.