Maytas Infra has declared its joint venture with the Saudi Arabia-based Saudi Bin Laden Group (SBG) Projects Investments. The Saudi based company will be the co-promoter of this venture along with the Indian Inc.

According to the Maytas officials this will help the Indian company to establish its stand at the Gulf region. It is hopeful to utilize the Saudi company's experience in this country. Both the companies have accepted that the joint venture enterprise will be in action.

For Maytas, Ravi Parthasarathy, the Chairman of the company has announced that fact in the extraordinary general meeting (EGM).

Addressing in this meeting, he has said that this joint venture in Saudi Arabia will provide the company an added advantage to tap the Gulf market in infrastructure and construction space. Hence this is going to be a fair deal for the Indian Inc.

However, he has also informed that Maytas will hold 55% of the stake in this joint venture while Saudi Bin Laden Group (SBG) will hold the remaining part of the share.