LNV Technology, a Chennai-based cement equipment manufacturing company, has signed a joint venture pact with Sinoma International Engineering (Hong Kong) Co., a global leader in cement engineering.
Under the agreement, Sinoma (Hong Kong) will hold 68 per cent equity of LNV Technologies.
The total transaction price of this deal is Rs. 130 crore.
V. C. Rao, Managing Director, LNV Technology, said in a statement that “Sinoma International Engineering has successfully completed more than 1,000 cement production lines within China and more than 150 large capacity cement plants, including mega plants with a capacity of over 10,000 tonnes per day on EPC basis.’’
The new joint venture eventually would expand the local manufacturing of products at international quality standards to suit Indian parameters, he said.
According to H. J. Nielsen, MD, LV Technology Public Co. , Bangkok and Director, LNV Technology “Sinoma will focus on the development of markets to provide integrated cement plants of large size with waste heat recovery system, captive power plant, mining machinery and technology for using alternative fuel.’’
