Transformers and Rectifiers (India) Ltd (TRIL) today said it has entered into a joint venture agreement with Chinese firm Jiangsu Jingke Smart Electric Company Limited (Jingke).
The joint venture will be set up to manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India.
"The company has entered into a Joint venture agreement with Jingke, a company incorporated under laws of People's Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India," the company said in BSE filing today.
According to the statement, TRIL will hold majority 60 per cent of share of joint venture and balance by Jingke. The company neither has any interest in Jingke nor fall within related party transactions.
TRIL is a leading manufacturer of Transformers and Reactors upto 765 kV.
The Utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in T&D segment, it added.
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