Artson forms joint venture with Malabar Cements for maritime expansion

Artson Limited's board of directors has approved a Joint Venture Agreement (JVA) with Malabar Cements Limited (MCL), Kochi. The JV aims to utilize Artson's execution capabilities in manufacturing, fabrication, erection, mechanical, installation, outfitting, MEP works, assemblies, and repairs of ships, boats, vessels, barges, floating platforms, and other products associated with the maritime industry, leveraging MCL's waterfront land.

The proposed unincorporated joint venture will operate with profit/loss sharing ratios based on various slabs. Artson will gain access to approximately 45m of waterfront within MCL's 7.00-acre land and will contribute its execution capabilities and track record. The supervisory board of the JV will comprise three representatives from Artson and two from MCL.

The companies confirm that neither party is related to a promoter/promoter group.