Kinetic announces JV with Italian firm FGTecnopolo
Kinetic Group has announced the finalization of an agreement to form a 50-50 Joint Venture between Kinetic Communications, the group’s arm specializing in Engineering services, and the leading architectural and engineering services group, FGTecnopolo of Italy. The joint venture will combine the strength of FGT’s international design expertise with a locally set up engineering center in Pune and operate in the name of Kinetic FGTecnopolo.
The JV will focus on a spectrum of infrastructure related products and services, including design, architectural and detailed engineering services for large infrastructure projects. These projects would include urban infrastructure such as SEZ/urban townships, transportation projects such as Airports, Seaports, Railway stations, and other public or private works in the area of infrastructure, retail or hospitality. The company will further expand scope of its work to launch other products and services related to infrastructure including Traffic Management systems and LED solutions for lighting through the technology tie up.
Kinetic has already entered this sector via its Joint venture with Hyundai Group of South Korea, called Kinetic Hyundai Elevators and Moving Technologies Limited, that specializes in Elevators, Escalators, moving walks, and Automated Parking Systems. Kinetic- Hyundai is one of the leading companies in this field in India now, and working with many leading players including Five star hotel chains, leading real estate and infra groups like Reliance, Ansals, Prestige, Oberoi, Kumar, Panchsheel, and many others.
Speaking on this occasion, Sulajja Firodia Motwani, Director, Kinetic FGT said, "India is on an unprecedented path of growth and over the next 10 years, there will be a tremendous growth in infrastructure, construction, retail and hospitality industry. The current Infrastructure & construction industry value in India is at INR5,170bn (US$114.9bn). Kinetic group already has a presence in both Engineering and design area with its engineering center at KCL and in infrastructure products segment, through its JV with Hyundai for elevators and moving technologies. We would like to leverage the available expertise and relationships in the market and design Infrastructure and combine the same with FGTecnopolo’s world class strengths in areas of design, architectural and engineering services and we hope to make a mark in this sector."
"The Indian infrastructure segment has witnessed robust growth over the past decade and by joining our complementary forces, we have created synergies to tap the mushrooming Indian market. Kinetic FGTecnopolo will demonstrate a new business model and offer value added services to its customers. FGTecnopolo’s capabilities and extensive European market knowledge and Kinetic’s presence in the Indian market will help to be more effective," said Stefano De Marchis, FGT Advisors, Chairman of FGT Advisors and Director of FGT India.
Kinetic FG Tecnopolo will be located at Pune where the company will set up a design and engineering sector to cater to opportunities in India as well as support the global operations of FGTecnopolo.