The Kinetic Group on Thursday announced the formation of a 50:50 joint venture company — Kinetic FGTecnopolo — between its engineering services arm Kinetic Communications and Italy-based architectural and engineering services group FGTecnopolo. The new company will combine the strength of FGT's international design expertise with a locally set up engineering centre in Pune.
“The joint venture is aimed at expanding the Kinetic Group's presence in the infrastructure sector in India as it will offer a lot of opportunities in the years to come,” Kinetic FGTecnopolo Director Sulajja Firodia Motwani told journalists here.
“The joint venture will focus on a spectrum of infrastructure related products and services, including design, architectural and detailed engineering services for large infrastructure projects. The company will further expand the scope of its work to launch other products and services related to infrastructure including traffic management systems and LED solutions for lighting through the technology tie-up,” she added.
Kinetic FGTecnopolo will focus on urban infrastructure projects such as SEZs and townships, transportation projects such as airports, seaports and railway stations, and other public or private works in the areas of infrastructure, retail and hospitality. Notably, Kinetic has already entered the infrastructure sector through its joint venture with the Hyundai Group of South Korea, called Kinetic Hyundai Elevators and Moving Technologies Ltd.
According to Stefano De Marchis, Chairman of FGTecnopolo Advisors, and Director of FGT India, “FGTecnopolo's capabilities and extensive European market knowledge, and Kinetic's presence in the Indian market, will help make it more effective.”
