PL Engineering, a Punj Lloyd group company, today said it has signed an agreement with France-based GECI International to set up a joint venture company to offer engineering services in the aerospace sector.
“The JV will initially focus on providing services to the growing Indian aerospace sector on supporting activities in Europe, followed by looking at the global market,” PL Engineering said in a statement.
However, the company did not specify further plans for the new JV, nor the investment figures were given.
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“Together with GECI, we look forward to leveraging the potential in the Indian aerospace sector,” PL Engineering CEO Sanjay Goel said, while adding that “this JV will bring together the Indian resources and skills in design and engineering with global aerospace technology, knowhow and experience.”
Talking about the proposed JV, GECI International Chairman Serge Bitboul said that “a partnership with the Punj Lloyd Group will allow us to offer an extended range of engineering services and together capture a significant part of the growing Indian aerospace sector“.
Bitbould added that the company is in the process of establishing itself as aircraft manufacturer with the production of the turboprop aircraft F406 and the development of the Skylander, a 19-seater turboprop, with serial aircraft available in 2013.
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PL Engineering is a Punj Lloyd Group company and provides a full spectrum of design and engineering services in the oil and gas, chemical and petrochemical, power and infrastructure sectors.
On the other hand, GECI International has been in the business of providing high level engineering activities, especially to the Aerospace sector for more than 30 years and is referenced by major manufacturers such as Dassault, Thales and EADS/E2S.