Kinetic enters into JV with Italian design firm

Automotive engineering group Kinetic today said that it has entered into a joint venture agreement with Italian design firm FGTecnopolo to provide infrastructure-related products and services.

The 50:50 joint venture -- Kinetic FGTecnopolo -- was formed between Kinetic group company Kinetic Communications and FGTecnopolo, it added.

"The JV is aimed at expanding the group's (Kinetic) presence in the infrastructure sector in India as it will offer a lot of opportunities in the years to come," Kinetic FGTecnopolo Director Sulajja Firodia Motwani told reporters here.

The JV will focus on a spectrum of infrastructure-related subjects, including design, architectural and detailed engineering services for large infrastructure projects, she added.

 

While FGTecnopolo will provide expertise in design and development of projects, the execution will be handled by engineers at the JV's Pune centre, to be set up in due course of time, Motwani added.

"The new company will focus mainly on projects in India, although it could also provide support to some European projects," Motwani said, adding that the JV will have a paid-up capital of Rs 1 crore.

She said that the JV will leverage on Kinetic's existing presence in infrastructure through a joint venture with South Korea's Hyundai Group  -- Kinetic Hyundai Elevators and Moving Technologies Limited -- which specialises in manufacturing elevators, escalators, moving walks, and automated parking systems.

Commenting on the partnership with Kinetic, Stefano De Marchis, Chairman of FGTecnopolo Advisors and Director of FGT India, said, "FGTecnopolo's capabilities and extensive European market knowledge, and Kinetic's presence in the Indian market, will help make it more effective."

Kinetic FGTecnopolo will focus on urban infrastructure projects such as SEZs and townships, transportation projects such as airports, seaports and railway stations, and other public or private works in the areas of infrastructure, retail and hospitality.

"The company will further expand the 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," Motwani said.