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Citec Engineering, the Finland-based engineering services provider for power, oil and gas industries, is planning to make India a hub for its global activities and has started a facility in Mumbai to train design and engineering experts for its global operations.
Citec Engineering India, which employs half of Citec's global workforce, is also planning to increase its headcount in India from 255 to over 350 by the end of this year, said Martin Strand, chief executive officer, Citec.
"We hope to become a significant player in India in the engineering services for power, oil and gas industry, considering the development in the sector. We target to double our Indian business within two years," he said.
Currently, the company's Indian operations are limited to less than 10 million, and this includes a service contract with a major onshore oil and gas E&P exploration project. The company plans to rope in strategic alliances with turbines, boilers and generators manufacturers and independent power producers, who plan to set up power projects in India as the government plans to add over 78,000 megawatt of power in the 11th Five Year Plan.
More than 60 per cent of their 40 million turnover is from the power sector and the company has strategic partnerships with engineering majors such as Kvaerner as an EPC (Engineering Procurement and Construction) consultant and with Descon, one of the major fabricators in the West Asia, to provide structural detailing services, said Martin Strand.
The company has signed a global partnering agreement with power solutions major Wartsila to offer high-end plant engineering, technical information and documentation services.
The Indian arm of Citec will have a major role in executing the partnership, said Mukul Bhatia, managing director, Citec Engineering India.