August 23 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said on Wednesday it has launched the process of registering a joint venture with local peer M Strong in Germany.
The newly established company will be named Trace-M Invest and will be based in Wiesbaden, Trace Group Hold said in a bourse filing.
Trace Group Hold and M Strong will each hold a 50% stake in their joint venture company.
Trace-M Invest’s main activities will include construction of motorways and primary roads, as well as construction of housing, administrative and office buildings.
The company will rely on partnerships with leading construction companies, such as Zueblin, W&F and others, the statement reads.