Tuesday, 02 January 2024 12:17 GMT

Oman- Blue Star acquires 51 stake in WJ Towell unit


(MENAFN- Muscat Daily) Muscat-
Blue Star Ltd a leading Indian engineering conglomerate announced that it has acquired a 51 per cent stake in Oman Electro Mechanical Contracting Co LLC a 100 per cent step subsidiary of WJ Towell & Co LLC.

The new joint venture entity called Blue Star Oman Electro-Mechanical Co LLC (Blue Star Oman) will offer mechanical electrical and plumbing (MEP) contracting services in the sultanate Blue Star Ltd said in a press release issued on Monday.

Vir S Advani executive director and president - electro mechanical projects business at Blue Star Ltd said "Blue Star takes pride in announcing this joint venture for the Oman market. WJ Towell & Co is a highly reputed 148-year old group which is well entrenched in Oman and is the perfect strategic partner for us to enter the market.'

'Blue Star's potent blend of its strong technical know-how talented workforce design expertise exceptional project execution capabilities and global footprint have enabled it to be a part of some of the best engineering marvels across geographies. I am confident that this new venture will make deep inroads and create a significant difference to the MEP landscape in Oman" he said.

Blue Star said the current MEP market in Oman is worth around US$350mn and with this joint venture it aims to acquire in excess of ten per cent market share in the next couple of years with a focus on residential commercial industrial and infrastructure projects.



Muscat Daily

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