Panchshil partners with Korean company Hanmi

PUNE: Panchshil Realty, a real estate developer, has collaborated with Korea-based Hanmi Global, which is a project and construction management services company (PMCM), with the aim to establish a 50:50 joint venture firm to offer consultancy to construction and infrastructure projects across India.

The aim of the new initiative is to bring a higher level of technology into the development of infrastructure projects and also high rises, said Mr Atul Chordia, Chairman, Panchshil Group.

Hanmi Global has formed a special technology with the aim to build under the ground and above it simultaneously. The high rise projects can be completed in half the time, which usually needs for the construction cycle.

The collaboration will be helping Hanmi Global displays its technology and also offer an entry into the Indian market, said Mr Chang Rae Kim, President, Overseas Business Hanmi Global, said.

To commence with, Panchshil has forayed into a PMCM consultancy pact with Hanmi for two of its projects in Pune. The developer is also mulling to get into infrastructure development and also take up third party projects outside the state and it will also emphasis on Gujarat and Bihar in the early stages.