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Saturday, June 15, 2024

Tata Projects and Balfour Beatty India sign Memorandum of Understanding

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Tata Projects Ltd (TPL), the infrastructure Engineering and Construction arm of the Tata Group and Balfour Beatty plc’s newly-formed Indian subsidiary, Balfour Beatty India Pvt Ltd, havesigned a memorandum of understanding (MOU) to collaborate on emerging infrastructure opportunities.

The MOU paves the way for the two companies to jointly identify and pursue infrastructure opportunities in India and sub Saharan Africa with initial focus on power generation, transmission, railways, mining, and water and waste water segments.

Balfour Beatty Chief Executive, Ian Tyler, commented:

“This agreement with Tata, one of the largest and most respected companies in India, offers Balfour Beatty an exciting strategic opportunity to develop a substantial business in India and Africa, markets of high potential.

“While we have an established presence in India, through our professional services business, Parsons Brinckerhoff, we now seek to develop our full range of capabilities in the region.

“This initiative is in line with our broader strategy to develop our business in the high-growth emerging markets.”

Expressing his happiness at this important strategic tie-up with a respected group like Balfour Beatty for expanding business operations particularly in global markets like Africa, Prasad Menon, Director of Tata Industries Limited and Tata Projects Limited, commented that it would ‘fast-track TPL’s journey to emerge as India’s leading Engineering Procurement and Construction player’.

He stated that the Tata Group would ‘look forward to synergetic collaboration with Balfour Beatty in more diverse fields in the years to come’.

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