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GE and Triveni to target power generation market in India
By SiliconIndia | Monday, 19 April 2010, 00:02 Hrs
New Delhi: GE Oil & Gas, through one if its affiliates, and Triveni Engineering and Industries (Triveni) have signed a joint venture (JV) agreement to design, manufacture, supply, sell and service advanced technology steam turbines in India in the above 30 to 100 MW range for power generation applications in the Indian and worldwide markets.
Speaking on the occasion, John Flannery, President and CEO, GE India said, "Triveni is a key contributor to the continued growth of India's economy. Our strategic alliance reflects GE's continued commitment to India and strengthens our local market presence through technology transfer, the creation of local employment opportunities and continued investment in skills development and training."
GE Triveni, which will be incorporated in India and headquartered in Bangalore, will manufacture advanced technology steam turbines in India for both domestic customers and export to global markets. The JV, which will benefit from a full technology transfer and on-going R&D support from GE, will use Triveni's Bangalore facility for turbine manufacturing.
Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries said, "This is a vote of confidence in Indian manufacturing and great news for Bangalore, where the JV and Triveni's facilities are based. With our manufacturing capabilities as a springboard, GE's engineering, global footprint and brand recognition will be critical to the success of the partnership."
The transaction is expected to close in the next few months, subject to required consents and regulatory approvals.
Speaking on the occasion, John Flannery, President and CEO, GE India said, "Triveni is a key contributor to the continued growth of India's economy. Our strategic alliance reflects GE's continued commitment to India and strengthens our local market presence through technology transfer, the creation of local employment opportunities and continued investment in skills development and training."
GE Triveni, which will be incorporated in India and headquartered in Bangalore, will manufacture advanced technology steam turbines in India for both domestic customers and export to global markets. The JV, which will benefit from a full technology transfer and on-going R&D support from GE, will use Triveni's Bangalore facility for turbine manufacturing.
Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries said, "This is a vote of confidence in Indian manufacturing and great news for Bangalore, where the JV and Triveni's facilities are based. With our manufacturing capabilities as a springboard, GE's engineering, global footprint and brand recognition will be critical to the success of the partnership."
The transaction is expected to close in the next few months, subject to required consents and regulatory approvals.
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