Global Engineers Ltd (GEL) today said it has signed an agreement to form a joint venture with Bowas Induplan Chemie of Austria to manufacture propellants.
The JV company will operate as Bowas Global (India) Pvt Ltd, GEL said in a statement.
The main objective of the JV is to leverage both the firms' unique capabilities to strengthen presence in the Indian market.
It will align itself with Prime Minister Narendra Modi's 'Make in India' initiative by focusing on developing indigenous capabilities and making itself self-reliant terms of manufacturing and process technology, it said.
Bowas Induplan Chemie GmbH is a 52 years old engineering company which specialises in the design, planning and construction of plants for the explosives industry as well as plants for the production of raw materials for the explosives industry.
