ONET Technologies Sets Up Joint Venture With PCI Ltd Of India
Nuclear-industry services provider ONET TECHNOLOGIES of France has decided to invest in India's civil nuclear industry by setting up an engineering joint venture with PCI Ltd, part of PRIME Group of India. ONET TECHNOLOGIES holds 70% of the shares in the joint venture and PCI Ltd the remaining 30%. The new business is to be called ONET TECHNOLOGIES INDIA.
- (1888PressRelease) July 27, 2011 - London - The engineering-sector joint venture, formally set up in New Delhi on 6 April 2011 by ONET TECHNOLOGIES of France and PCI Ltd of India, covers not only the civil nuclear industry, but also conventional energy, with a third of the shares in the joint venture controlled by PCI Ltd and two-thirds by ONET TECHNOLOGIES. PCI Ltd belongs to PRIME Group, which supplies technical solutions to the electricity-generating sector for companies such as BHEL, ABB and L&T.
Surinder Mehta, chairman of PCI Ltd, says: "PRIME has committed itself to the partnership via PCI Ltd because it is very much the right moment to introduce ONET TECHNOLOGIES' leading-edge technology to India. This move fits in with PRIME's development strategy".
Dominique Mouillot, president of ONET TECHNOLOGIES, explains: "Our company, ONET TECHNOLOGIES, will bring its know-how and more than 30 years of expertise to the joint venture. Considering the Indian government's desire to increase the number of its civil nuclear power stations and to encourage international companies, ONET TECHNOLOGIES has committed itself to supplying solutions with high added value that are technologically safe and that put into practice leading-edge technologies."
The company set up by ONET TECHNOLOGIES in partnership with PCI Ltd, to be known as ONET TECHNOLOGIES INDIA, will supply services to the civil nuclear industry, in areas that include engineering design, maintenance, decommissioning and waste management.
For ONET TECHNOLOGIES, one of the clear objectives in opening this joint venture is to develop an engineering capacity, in India, in order to support the French-based company's projects in France and in the rest of Europe. This has already become reality as ONET TECHNOLOGIES UK, which is the British subsidiary of ONET TECHNOLOGIES, has used this capacity to produce some detailed design engineering studies with a view to supporting its contribution to the Brennilis project in France.
The move by ONET TECHNOLOGIES into the Indian market fits in with the overall development strategy of the French nuclear-power industry; it is also consistent with the bilateral co-operation that exists between France and India in order to support the latter's development programme in the civil nuclear industry.
About PCI Ltd
PCI Ltd, which is headquartered in Gurgaon, in the state of Haryana (30km from New Delhi), is part of PRIME Group of India. PCI Ltd has, for over 20 years, developed a number of businesses, almost all based on a joint-venture structure, in co-operation with key international players in the fields concerned.
The majority of PCI's activities relates to the supply of equipment in a range of industries, including the nuclear-energy sector. The added value that PCI offers resides in its ability to win bids and then, when required, to integrate the foreign companies' equipment on a turnkey basis. PCI also has engineering and design capacity for certain pieces of equipment. Additionally, the Indian company has developed training programmes (in thermo-graphics, vibration analysis and NDT) around the supply of equipment to industry.
PCI's turnover, today, stands at about US$100 million. This is expected to rise by more than 100% in the coming years, as various production units (such as transformers, among others) come on stream. PCI employs 850 staff and has 400 contractors on site.
For more information about PRIME Group, please go to: http://www.primegroupindia.com/
For more information about PCI Ltd, please go to: http://www.pci-india.com/index.html
About ONET TECHNOLOGIES
ONET TECHNOLOGIES is part of ONET group, which is headquartered in Marseille (in south-eastern France). ONET TECHNOLOGIES provides advanced solutions in the civil nuclear industry, and assists players seeking technological solutions that will contribute to the responsible development of nuclear energy.
ONET TECHNOLOGIES has been a key player in the civil nuclear industry for over 30 years. Today, ONET TECHNOLOGIES has a workforce of more than 2,300, including 600 engineers and experts, as well as nearly 1,700 technicians and specialist operators. The company's turnover is of €225 million.
ONET TECHNOLOGIES supports its customers throughout the entire life cycle of their nuclear facilities by offering three broad areas of expertise: firstly, regarding engineering and the maintenance of active nuclear reactors and installations; secondly, regarding dismantling, decontamination and the management of radioactive waste for installations that are no longer in service; and, thirdly, in the area of new build.
ONET TECHNOLOGIES is France's market leader in the dismantling of power reactors and the management of radioactive waste.
ONET TECHNOLOGIES is also a leading manufacturing concern. Since 2001, ONET TECHNOLOGIES has sought to set up partnerships with major international players in engineering and manufacturing, the most noteworthy of which is its alliance with MITSUBISHI HEAVY INDUSTRIES in order to supply steam generators to international energy group EDF.
ONET TECHNOLOGIES has underpinned its international expansion through the setting-up of various subsidiaries, which include ONET TECHNOLOGIES UK, ONET TECHNOLOGIES BULGARIA, ONET TECHNOLOGIES ROMANIA, ONET TECHNOLOGIES ITALIA and ONET TECHNOLOGIES INDIA.
ONET TECHNOLOGIES is also focused on innovations for the future, and is bringing its expertise to projects such as ITER, experimental reactors and Generation IV.
For more information about ONET TECHNOLOGIES, please go to: http://www.onet-technologies.com/en/
For further information, please contact :
Quote ref. : FTPB3623
Ms Katherine WOODS - Press Officer
UBIFRANCE Press Office in London
Tel: +44 (0) 207 024 3640
katherine.woods ( @ ) ubifrance dot fr
View other press releases at :
http://www.ubifrance.com/uk/
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