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Home arrow News arrow Power and Energy arrow Triveni Engineering and GE Oil & Gas ink JV agreement for steam turbines
Triveni Engineering and GE Oil & Gas ink JV agreement for steam turbines Print E-mail
Written by Anand   
Saturday, 17 April 2010
New Delhi:  Triveni Engineering & Industries Limited (Triveni) and GE Oil & Gas, through one if its affiliates, have signed a joint venture (JV) agreement to design, manufacture, supply, sell and service advanced technology steam turbines in India, above 30 to 100 MW range for power generation applications in the Indian and worldwide markets.

The joint venture company, GE Triveni Limited, 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 be endowed with a full technology transfer and on-going R&D support from GE, will use Triveni’s Bangalore facility for turbine manufacturing.

Triveni will hold one extra share in the venture and both the partners would have equal board representation. An annual revenue of $30 million - $50 million is expected from the JV within the next two to three years.

"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. The JV also is a great example of the decentralized ‘reverse innovation’ approach that enables GE to rapidly accelerate growth by driving best value innovation outwards from developing countries to global markets," said John Flannery, president and CEO, GE India.

"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 world-class engineering, global footprint and brand recognition will be critical to the success of the partnership. I believe this is a big step forward in Triveni’s business development plans, and we are immensely proud and privileged that GE has chosen us as its partner," said Dhruv M. Sawhney, chairman and managing director, Triveni Engineering & Industries Ltd.

The transaction is expected to close in the next few months, subject to required consents and regulatory approvals.

"Triveni is a terrific partner for GE, particularly given its cultural fit with GE Oil & Gas, excellent supply-chain and established presence in India. Our high-tech partnership will build on our combined engineering expertise, offering customers worldwide a high quality, optimum efficiency and best-value power generation solution," said Joe Mastrangelo, vice president—turbomachinery, GE Oil & Gas.

On October 23, 2007, GE's Oil & Gas business has signed an agreement with Triveni to enter the fast growing High Speed Reciprocating (HSR) Compressor Market in India. The five year agreement involved the import of bare (Flange-to-Flange) compressors from GE Oil & Gas’ Oshkosh, Wisconsin, USA facility. Triveni did the engineering design, manufacturing and assembly of the package. It also procured drivers and the rest of the components for packaging in India.

Triveni Engineering & Industries Limited is amongst the three largest sugar manufacturers in India, and the market leader in its engineering businesses comprising steam turbines, high-speed gears, gearboxes and water treatment solutions. The company’s steam turbine manufacturing facility, located at Bangalore manufactures steam turbines up to 30 MW and also provides refurbishment solutions to larger turbines. The high speed gear manufacturing facility is located at Mysore while the water and waste water treatment business is located at Noida.

Triveni’s Bangalore facility which manufactures precision engineering products like Steam turbine had undergone significant expansion and modernization with the installation of state of the art equipments and software. Triveni’s entry into Oil & Gas segment with GE is the result of the building of a world-class engineering facility matching with the requirements of meeting the quality and technology norms akin to GE.

Last Updated ( Wednesday, 21 April 2010 )
 
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