Kinetic group in JV with Italy's FGTecnopolo for urban infrastructure services
01 Jul 2010
Automobile and engineering group Kinetic today announced the signing of a 50-50 joint venture between Kinetic Communications, the group's arm specialising in engineering services, and FGTecnopolo of Italy, an architectural and engineering services group.
The joint venture, to be called Kinetic FGTecnopolo, will set up an engineering and design centre in Pune. The centre will focus on a spectrum of infrastructure related products and services, including design, architectural and detailed engineering services for large infrastructure projects.
The projects would include urban infrastructure such as SEZ/urban townships, transportation projects such as airports, seaports, railway stations, and other public or private works in the area of infrastructure, retail or hospitality.
The company plans to further expand 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.
Kinetic has already entered this sector via its joint venture with Hyundai Group of South Korea, called Kinetic Hyundai Elevators and Moving Technologies Limited, that specialises in elevators, escalators, moving walks, and automated parking systems.
Kinetic-Hyundai is one of the leading companies in this field in India now, and is working with many leading players, including 5 star hotel chains, leading real estate and infra groups like Reliance, Ansals, Prestige, Oberoi, Kumar, Panchsheel, and many others, a company release said.