INGRESS Corp Bhd's 49% associate company, Balfour Beatty Rail Sdn Bhd (BBRail) and Ansaldo STS Malaysia Sdn Bhd (Ansaldo) have formalised the incorporation of a joint venture company, Balfour Beatty Ansaldo Systems JV Sdn Bhd. The JV company will be 60% owned by BBRail with the remaining 40% equity held by Ansaldo. The JV company will have a paid-up capital of RM6 million at the completion of the shareholders' agreement and will jointly manage the systems package, which comprises the electrification and signaling, for the Ipoh to Padang Besar Double Tracking Project for the MMC-Gamuda Joint Venture Sdn Bhd.