Stone & Webster and Rolta India establish joint venture
By Our Corporate Bureau | 20 May 2004
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Mumbai: The Shaw Group (NYSE: SGR) and Rolta India announced that Stone & Webster Inc, an affiliate Shaw company, and Rolta have set up a joint venture company in India, Stone & Webster Rolta Limited. Owned 50 per cent by each partner, the company will provide high quality engineering and design services and take up selective turnkey, process refinery, petrochemicals and power projects in India. This joint venture has already started operations at a centre in the Rolta Technology Park in Mumbai.
The combination of these two companies is expected to bring in world-class technology and high-end engineering capabilities to India. Besides this, the JV is intended to leverage Indian infrastructure, facilities and capabilities of Rolta and Stone & Webster’s experience and expertise for executing complex global EPC projects.
K K Singh, chairman and managing director, Rolta India, commented, “This joint venture will bring in 115 years of technological experience and engineering skills for process and power industries from Stone & Webster, for the Indian market. This joint venture is a natural progression of our engineering business and will play a vital role in the growth of our company in this area and will enable us to increase market penetration, resulting in significant benefits to both companies.”
“Enhancing Stone & Webster’s competitive position in the international marketplace depends on the success of strategic business alliances like the one we have formed with Rolta. This joint venture is a significant milestone for our integrated power and process EPC business unit. It leverages the resources and expertise of both partners to augment Stone & Webster’s engineering capabilities and thereby deliver enhanced value to our customers,” stated E. Fatemizadeh, president of engineering, procurement and construction, Stone & Webster.
The combination of these two companies is expected to bring in world-class technology and high-end engineering capabilities to India. Besides this, the JV is intended to leverage Indian infrastructure, facilities and capabilities of Rolta and Stone & Webster’s experience and expertise for executing complex global EPC projects.
K K Singh, chairman and managing director, Rolta India, commented, “This joint venture will bring in 115 years of technological experience and engineering skills for process and power industries from Stone & Webster, for the Indian market. This joint venture is a natural progression of our engineering business and will play a vital role in the growth of our company in this area and will enable us to increase market penetration, resulting in significant benefits to both companies.”
“Enhancing Stone & Webster’s competitive position in the international marketplace depends on the success of strategic business alliances like the one we have formed with Rolta. This joint venture is a significant milestone for our integrated power and process EPC business unit. It leverages the resources and expertise of both partners to augment Stone & Webster’s engineering capabilities and thereby deliver enhanced value to our customers,” stated E. Fatemizadeh, president of engineering, procurement and construction, Stone & Webster.
