City-based Voltech group, service provider in testing and commissioning of electrical plants, has floated two more joint ventures one in India and another in Zambia.
The group, on Tuesday, signed agreements with Kuwait-based Rank General Trading & Contracting Company (RGTCC), and Goldberg Associates Ltd (GAL), Zambia.
RGTCC is a leading electrical and telecom contractor and GAL a global trading company.
Talking to reporters, Voltech group Chairman and Managing Director M. Umapathi said the investment in the first venture with RGTCC in India was Rs.120 crore. It would help Voltech execute engineering procurement and construction contracts on a turnkey basis to the telecom sector.
The services offered by the JVs would be in the domains of networking, telecommunications and security system solutions.
(Voltech already has JV with RGTCC in Kuwait).
Mr. Umapathi said the Rs.60-crore venture with GAL would enable the company to build and operate solar-based power generation plants in Zambia and African countries.
Voltech has already bagged an order from the Zambian government to set up a 10-MW solar power project. Of the total investment of Rs.180 crore, Voltech share is Rs.90 crore, he said.
Voltech has a Rs.19 crore solar panel manufacturing plant in Chennai. It would be inaugurated soon, he said.
