ASSYSTEM Energy & Infrastructure and AXISCADES Engineering Technologies Ltd. signed a Memorandum Of Understanding to form a joint venture company in India.
This JV Company will undertake engineering services for energy sector business for Indian and global utilities and contractors; as may be mutually agreed in accordance with the provisions of the final agreements.
This JV combines strengths of AXISCADES and ASSYSTEM Energy & Infrastructure to address needs of industry leading Energy Majors across the globe in creating high quality and cost effective solutions for the global outsourcing requirements. It is also aimed at addressing the nuclear programs in India. This JV Company is modeled after the successful partnership formed by AXISCADES and ASSYSTEM to address some of Airbus Group requirements.
The synergy between ASSYSTEM Energy & Infrastructure and AXISCADES offers a new technology based platform for improved business value proposition. The JV plans to employ over 500 talented engineers in next 3 years.
“The energy industry worldwide has to improve its competitiveness to meet the sustainable development required globally. I am convinced that the combined know-how of ASSYSTEM as a leading engineering player in energy worldwide along with the capabilities and competitiveness of AXISCADES, a leading Indian technology solutions company, can offer the energy sector a unique value proposition” said Stéphane AUBARBIER, CEO, ASSYSTEM Energy & Infrastructure.
Commenting on the occasion, Sudhakar Gande, Vice Chairman, AXISCADES said “The growing importance of the energy sector requires that we bring superior global resources and a broad spectrum of cutting edge technologies and processes in order to best ensure our customers' success. The formation of this joint venture ensures value addition and provides critical mass to accelerate meeting those objectives.”
The JV could also involve service offerings to other sectors and regions, thus giving a boost to the competitiveness of both companies in the global marketplace, by leveraging each other’s core strengths.