Under the JV agreement, DLF will receive 80% of the work order profit from Prosper on an 80-20 basis between July 2 2018 and the project’s expected completion date on 17 July 2019.
SINGAPORE (Mar 11): DLF Holdings, the mechanical and electrical (M&E) engineering firm, is entering a 80:20 joint venture (JV) agreement with Prosper Environmental Engineering to collaborate on a work order awarded to the latter to construct the living quarters of a marine admiralty yard.
As a contractor under the work order for an unnamed ‘leading player in the marine engineering industry”, Prosper is to fabricate, erect and install all structural and associated steelwork while providing the necessary management, labour, tools, equipment, services and consumables for the project.
