TECNIMONT PRIVATE LIMITED (MAIRE TECNIMONT GROUP) AND METAL CRAFT JOIN FORCES TO ESTABLISH “TECNI AND METAL PRIVATE LIMITED”, A NEW JOINT VENTURE FOR CONSTRUCTION AND MECHANICAL WORKS

The new JV (Tecnimont Private Limited 51% / Metal Craft 49%) will act as an in-house operating arm for construction and mechanical works, significantly increasing the efficiency of Maire Tecnimont Group’s upcoming projects

Hyderabad, 18 October 2022 – Tecnimont Private Limited (TCMPL), the Indian subsidiary of Italy-based Maire Tecnimont Group and a leading Engineering, Procurement and Construction company, announced today the establishment of Tecni and Metal Private Limited, a new JV with Metal Craft Constructors Private Limited (MCCPL). Tecni and Metal Private Limited, with a 51% TCMPL stake, will focus on efficient construction solutions for the Group’s projects in India and other geographies in the future.

The new JV combines the high-level competences in planning and construction management retained by TCMPL and the long-term experience of MCCPL in providing specialized personnel for the different phases of complex industrial plants, spanning from mechanical, civil, and construction up to erection and pre[1]commissioning.

Milind Baride, India EPC Projects Vice President, Maire Tecnimont Group, commented,” As we continue to expand Maire Tecnimont Group’s industrial footprint in India, it is important that TCMPL develops and nurtures a robust in-house division focused solely on construction and mechanical works. We stay committed to ensuring the best environmentally performing products and processes, and our new JV Tecni and Metal Private Limited will take us a step closer to becoming the definitive leader in the Indian EPC arena”.

On the occasion of this partnership, Mr. Bhaskaran Thulasidharan, Managing Director, MCCPL, said, “This alliance is a result of the synergy with TCMPL in terms of experience and knowledge in the construction sector along with effective strategizing. Apart from TCMPL’s long desire to have its very own in-house construction and mechanical solution segment, this strategic alliance also ensures self-reliance and efficient construction project execution”.