New Delhi: French firm Alstom Thursday said it has formed a joint venture with Druk Green Power Corp for setting up hydro power service centre in Bhutan.
"Alstom and Druk Green Power Corporation (Druk Green) Thursday announced that they will establish a hydropower service centre in Jigmeling, Gelephu under Sarpang Dzongkhag (district) of Bhutan to provide repair services for hydro runners and other underwater parts of hydropower plants," Alstom said.
"This strategic partnership will be implemented as a joint venture (JV) with a shareholding of 49 percent for Alstom and 51 percent for Druk Green," it said.
The corresponding agreement was signed in Bhutan by Dasho Chhewang Rinzin, Managing Director, Druk Green and Alain Spohr, Unit Managing Director, Alstom Hydro India.
This will be the first Service Centre in the country and it aims to create 160 new jobs in Bhutan.
The service centre is expected to employ 62 employees in the first year of operations and plans to ramp up the headcount to 160 when the centre reaches its full capacity utilisation.
The service centre construction is planned to be completed within 27 months from the signing of this agreement, the statement said.
With this agreement, Alstom, together with Druk Green, aims to support the national drive for investment and employment in the promising Bhutanese hydro market while maintaining close proximity with its customers.
"The new service centre is a key element in Alstom's growth plans in the region and demonstrates our commitment to serve Bhutan Hydro market and more generally to be close to our customers in the region," Francois Carpentier, Vice President, Thermal and Renewable Power, Alstom India said.
Alstom is a large French multinational conglomerate which holds interests in the power generation and transport markets.
First Published: Thursday, June 7, 2012, 21:58