Triveni Engg and GE form JV for steam turbines

Noida-based Triveni Engineering has today announced that it has signed a joint venture agreement with an affiliate of US based General Electric. The joint venture between GE Pacific Mauritius and Triveni Engineering will design, manufacture, sell, supply, and service advanced technological steam turbines in India.

The steam turbine generators manufactured will be in the range of 30 to 100 megawatts meant for power generation applications. These generators will be sold both in Indian and international markets. The joint venture will benefit from full and exclusive technology transfer and on-going research and development support from General Electric, the company said in a statement to the stock exchanges.

The joint venture will use Triveni's Bangalore facility for turbine manufacturing, and will also be headquartered and incorpoated in Bangalore. Triveni will hold one extra share with both parties having having equal representation on the board. The transaction is expected to close in the next few months, subject to legal and regulatory approvals.