McNally Bharat, Kaylon sign pact for infrastructure projects

McNally Bharat Engineering has signed an agreement with Kaylon Group to take up infra projects jointly and help chart the revival of the six-decade-old company that began its journey as the local unit of McNally Pittsburg.

McNally Bharat Engineering is the projects execution entity of the tea-to-dry cells conglomerate Williamson Magor Group (WMG) and Kaylon is a Turkey-based group with interests in businesses such as power, infrastructure, railways, and solar energy.

According to an ET report, additionally, two European conglomerates have also shown interest in McNally Bharat, to help expand the struggling company’s mines, mineral, port and steel businesses.

“We hope to sign two separate collaborative agreements with the firms shortly,” the report quoted an industry source close to the development as saying.

Image Credit : topnews.in

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