A new Indo-UAE joint venture in Abu Dhabi aims to corner a larger share of the regional energy industry's specialised valves market through local manufacturing.
Advance Valves Global, the new specialised valves manufacturing facility, a joint venture between India's Advance Valves and Abu Dhabi-based Technical Parts Company, was opened yesterday at Musaffah by Mohammad Omar Abdullah, Director-General, Abu Dhabi Chamber of Commerce and Industry, and Sudhir Vyas, India's Ambassador to the UAE.
Touted as the first of its kind in the UAE, the facility will manufacture a number of specialised valves used in the oil and gas, power and water sector.
"Various valves will be manufactured at the Abu Dhabi facility for the local as well as GCC and Middle East markets.
"Our aim is to service the Middle East markets better through this facility here," said Advance Valves Chairman Uma Shanker.
Details about the investment outlay were not disclosed.
"The technology and products are superior and with the huge demand for specialised valves in the Gulf and Middle East markets, we are positive about our long-term prospects," he said.
"The combining of valve technology from Advance Valves, the market knowledge of Technical Parts Co and the engineering facilities of C & J Engineering, an arm of the Bhatia Brothers Group, brings together a synergistic fusion of skill sets to meet the stringent demands of the oil and gas industry in the Middle East."
The Noida-based Advance Valves exports 50 per cent of its specialised valves from India to various markets including the Middle East.
"We have been exporting to oil companies in Oman, the UAE (Total ABK and Adnoc companies), Kuwait, Iran, Algeria and other markets."
The company manufactures over 20,000 valves annually.
Vyas said the new venture marks another step forward in the growing economic relations between India and the UAE. "The UAE as well as the GCC is growing and there are many opportunities for Indian businesses that are now looking outward, particularly the Gulf. With such joint ventures, economic relations are poised for further growth."
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