Indian engineering construction firms eyeing Oman ventures

10/7/2015 4:48:04 PM

(MENAFN- Muscat Daily)Muscat-

As many as six Indian engineering and construction firms are looking to set up joint ventures (JVs) in the sultanate to target growing opportunities in Oman's building and infrastructure development sectors.

Around 15 Indian companies participated in the Infra Oman exhibition which was held at the Oman International Exhibition Centre from October 5-7 under the banner of the Trade Promotion Council of India (TPCI).

The companies showcased their products and equipment at the exhibition.

The Indian embassy in Muscat hosted a 'Business Meet' on Tuesday for the visiting companies to interact with their Omani counterparts for exchange of information and discuss plans for doing business and setting up JVs.

Rajesh Sharma head of the delegation and senior director for international relations at TPCI said as many as five or six Indian firms are in discussions with potential local partners for setting up JVs in the sultanate.

'These companies are looking for building and infrastructure projects and to sell construction equipment in Oman. We have received a very positive response and these firms are in talks to set up JVs with suitable Omani firms. We are looking forward to increased investments from both sides.'

The Indian delegation comprised companies from engineering construction ceramic automation pumps and other construction equipment fields.

'In the next few years Oman is going to be a big time opportunity for building and infrastructure projects and Indian companies looking to play a big role here. A few Indian engineering firms are also likely to play a big part in Oman's railway project when tendering is initiated. We are looking forward to organise more meetings in the future.'

He however did not disclose the names of the Indian firms in discussions on JVs as the talks are in the early stages. 'India-Oman trade relations have been good. We are trying to organise more meetings between chambers of commerce and councils and take part in exhibitions.'

The visiting Indian firms included: Shri Prempuriji Granimarbo Pvt Ltd; Prime Automation Systems Pvt Ltd; Weartech Alloys Pvt Ltd; Stone India Ltd; Maxmech Equipments Pvt Ltd; Trade Link Ltd; Pieco India Engineering Co Pvt Ltd; Algorithms Software Pvt Ltd; Livon Ceramic; Lizon; Digital Wall Tiles; Rey Cera-Creation Pvt Ltd; and Simbel India Engineering Co Pvt Ltd.

India was recently ranked by the Financial Times as the No 1 destination for foreign direct investment (FDI). 'We want more and more Omani companies to participate in exhibitions in India and view India as a preferred destination' Sharma said.

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