Lloyd's Register to increase its presence in India, double revenue by 2015

The company has shortlisted sectors such as power, oil and gas, nuclear, marine, infrastructure, rail transportation and water management

Lloyd's Register, an independent quality and risk assurance firm, proposes to increase its presence in India and double its revenue from the present level of 18-20 pounds by 2015.

It has shortlisted sectors such as power, oil and gas, nuclear, marine, infrastructure, rail transportation and water management.

Lloyd's Register's chairman R S Sharma on Thursday told reporters that the firm proposes to get the contract from leading private companies as well as public sector undertakings in the country.

Sharma, former chairman of the state run Oil & Natural Gas Corporation (ONGC), said the firm has already held talks with the Rail Board as well as states for the upcoming railway projects and metro rail projects.

"Lloyd's Register is well equipped  to provide independent assurance to companies operating high risk, capital intensive assets in energy and transportation sectors. We enhance the safety by helping clients to ensure the quality construction and operation of critical infrastructure," he noted.

Explaining the firm's plan to strengthen its footing in the Indian energy sector, K Swaminathan, who head energy and power sectors, has already firmed up plan in this regard especially when there are multiple new initiatives being undertaken in green energy, nuclear energy.

"In the past four years, Lloyd's Register has globally spent 170 million pound acquirising offshore drilling and risk management specialists such as Moduspec, Scandpower, WEST Engineering Services and in India it has acquired Mumbai based nuclear risk specialists Reltech Consulting.Lloyd's Register is excited to be a part of the growth story in India and hopes to accelerate growth for the company," he added.

Besides, Sharma said the the firm would like to associate with corporate social responsibility projects.

Mark Stokes, group communications director, said the firm has announced "Water Matters," a corporate social responsibility programme to raise awareness of the impending water criss and fund employee projects focused on water management and conservation.