Kolkata-based Texmaco Rail & Engineering Ltd, one of the leading heavy engineering companies in the country, has proposed to forge a joint venture with Orissa Hydro Power Corporation (OHPC) to supply hydro mechanical equipment for hydro power, pump storage and irrigation projects.
The company, a part of Gurgaon-based Adventz Group, with business interests in engineering, fertilizers, media and lifestyle, has proposed the formation of the joint venture with equal participation of OHPC and Texmaco Rail.
"The combined resources and experience of OHPC and Texmaco Rail and Engineering Ltd shall make the proposed JV mutually beneficial to both the organizations. Also, the involvement of a hydro mechanical company from the start of conceptual work will ultimately benefit the overall project in its timely completion and will also be cost effective”, Suhrid Ranjan Sinha, senior vice president, Texmaco Rail and Engineering said in a letter to G Mathivathanan, secretary (energy)-Orissa.