India-based JV to produce offshore cranes
15 October 2010
Two oil equipment and services companies have set up a joint venture in India to manufacture cranes for the country's expanding offhore industry.
Oil States Industries (OSI), a subsidiary of USA-based Oil States International, Inc. confirmed the deal with offshore equipment provider G&T Oilfield and Offshore Services Pvt. Ltd. (GTO), a privately-held Indian company.
The new venture, G&T Oil States Industries Private Limited, will be headquartered in New Delhi, and include facilities based in Navi Mumbai. The latter will incorporate design, manufacturing, sales and service for Nautilus Marine Offshore Pedestal Cranes and King Post Cranes, under a Licensing Agreement with Patriot Cranes LLC.
Until the 10,914 square metre facility is complete, the joint venture will operate out of current GTO facilities in Navi Mumbai. Once up and running in mid-2011, the complex will include a three-story office building, equipped with a 50-seater training auditorium, a 75 tonne function crane test stand and full load testing equipment.
"We see continuing growth for our market, along with a greater need for customer responsiveness in the offshore construction arena," said Rajiv Savara, GTO managing director.
"The Indian waters have one of the largest installed bases of offshore platforms in the world. This new joint venture will enable us to produce and deliver complete crane solutions with shorter lead times, greater cost efficiency, higher quality and safety standards that our customers have come to expect," Savara concluded.