Fusegear, Saudi-based co in JV
Indo Asian Fusegear Ltd announced an $8.5 mn JV with National Company for Glass Industries and Saudi Arabia based Saudi offset Ltd Partnership for manufacturing electrical products.india Updated: Jan 24, 2006 15:47 IST
Indo Asian Fusegear Ltd on Tuesday announced an $8.5 million joint venture with National Company for Glass Industries (Zoujaj) and Saudi Arabia based Saudi offset Ltd Partnership for manufacturing electrical products.
The newly formed Limited Liability JV will be known as 'Saudi National Lamps and Electricals Company Ltd' and will be engaged in the manufacture of energy-saving compact fluroscent lamps (CFLs) and HID lamps, the company said in a release.
Indo Asian would be the technology partner in the venture and would provide technical expertise as well as supply of plant machinery and equipment, it said.
"Indo Asian with its Saudi partners and SOLP will focus on the fast growing opportunities in the Middle East by setting up this joint venture offering wide range of products in Saudi Arabia, the single biggest market in the middle East," Indo Asian Chairman and Managing Director VP Mahendru said.
Indo Asian is a global supplier of world-class circuit breakers and lighting equipment and produces a wide range of electrical circuit protection equipment including distribution boards, switch boards, switch panels etc.