Vinci acquires India’s NAPC
Written by Sarah Ann Campbell - 16 Jan 2012
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French construction giant Vinci has acquired Indian civil engineering company NAPC for an undisclosed sum.
The 100% buyout by Eurovia, the transport subsidiary of Vinci, marks the company's entry into the Indian market.
NAPC, an Indian construction and public works company based in Chennai, in the state of Tamil Nadu, was founded in 1949 and remained a family-owned business until the Eurovia acquisition. NAPC generated revenues in excess of € 100 million (US$ 125 million) in 2011.
The civil engineering contractor operates from profit centres in Chennai, Bengaluru, Mumbai, Goa, Orissa and also the Middle East. The company handles diverse operations including earth moving and road building, as well as land development, airfield construction and dam, reservoir and canal building.
In 2009, NAPC, as part of a consortium with GMR Group, won the order to construct the first phase of the Chennai Outer Ring Road - a 62.3 km project to be constructed around the Chennai Metropolitan Area. Work began on the project in August 2010.
With this acquisition, Eurovia is establishing a position in India. The state of Tamil Nadu - where NAPC is based - is the fifth largest Indian economic region and benefits from considerable foreign investment in the industrial and port sectors.
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