By IANS
New Delhi : US-based General Electric Co’s (GE) oil and gas business has entered into a partnership here Monday with Triveni Engineering and Industries Ltd (Triveni) to tap the country’s fast-growing high speed reciprocating compressor market, used widely in the oil and gas sector.
Commenting on the strategic partnership, Dhruv M. Sawhney, chairman and managing director, Triveni, said: “We see a buoyant oil and gas market in India in the coming years. We looking at a Rs.5 billion market per annum with a growth of 25-30 percent a year.”
“We feel the agreement with Triveni is a key step in our localisation and partnership strategy, which will enable us to serve our customers in India from India by reducing cost of the package,” said Pratyush Kumar, president and chief executive officer of GE Infrastructure, India.
Speaking on the sidelines, Pratyush Kumar told IANS: “We are also looking for local partnership in the aviation sector for ground equipment like pumps, since we see a lot of growth prospects in the sector.”
“We are going to follow the same business model that we are following in the US, which will improve our cost, and pre-sale and post-sale customer support,” said Ricardo Procacci, country manager for GE Oil and Gas, India.