EMCO Ltd. (BSE Code: 504008), one of the leading Indian manufacturing companies and End to End solution Provider in Power Transmission and Distribution sector, entered into a MOU agreement for joint venture partnership with a South Africa based company, Edison Power (Pty) Limited for manufacturing transformers in South Africa and marketing the transformers in the African Region.

The joint venture is to be named “EMCO-EDISON Transformers Africa (Pty) Limited (EETA)”, EMCO has 51 per cent equity participation, with Edison holding the balance 49 per cent in the JV.

Mr. Rajesh Jain, Chairman, EMCO Ltd. said, “In line with our growth strategy, we are aggressively planning to establish our overseas presence by setting up manufacturing and marketing units outside India and this JV is one of the steps towards achieving our Goal. We are aiming to achieve 30% of our turnover from Exports. Edison Group of Companies has ample resources and vast experience in handling all type of electrical installation Projects in Substation & Transmission sector. Partnership with Edison Corporation is perfect synergetic alliance and both of us are poised to gain from Power sector boom in the region.”

While expressing great delight at the creation of EMCO-EDISON Transformers (Pty) Ltd. Mr. Vivian Reddy, Chairman, Edison Power Group of Companies, said “EMCO’s transformers are highly rated worldwide and for this reason it is strategically important for both companies to align themselves together in Africa, which is fast becoming the next India or China of the world. The Edison Power Group of companies is strategically well positioned with all the power utilities to ensure that the planned transformer needs of South Africa are met from this proposed manufacturing unit. ”

“The entire African continent (excluding South Africa) market is projected at over $300 billion over the next 30 years. The proposed plant in South Africa will generate great business throughout Africa” Mr. Reddy added.

Sourced From: Hanmer & Partners Communications Pvt. Ltd

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