Rolta India, Stone & Webster Inc form 50:50 JV

Rolta India and Stone & Webster Inc, a subsidiary of the Shaw group Inc., today formed a 50:50 joint venture firm "" Stone & Webster Rolta India "" to provide engineering and design services and undertake turnkey projects in India.

This JV firm has already started operations at a dedicated centre in Rolta Technology Park in Mumbai.

K K Singh, chairman and managing director, Rolta India said, "The partnership firm will bring in world class technology and high-end engineering capabilities, apart from contributing to the economic growth of the country."

The joint venture would also leverage the companies' infrastructure capabilities and expertise in India to execute global engineering, procurement and construction (EPC) contracts in the country, he said.

E Fatemizadeh, president of Stone & Webster, said that the joint venture would enable the companies to improve their market penetration and provide turnkey services and software solutions to multinational companies.

He also added that enhancing Stone & Webster's competitive position in the international market place depends on the success of strategic business alliances.