A BLACKBURN headquartered nuclear company has taken over an Indian engineering company which operates all across the subcontinent.
The deal, which was originally scheduled to be closed at the end of May, will see Assystem take a 99 per cent stake in the Indian company.
Mumbai-based STUP employs 1,100 people across India and works on transportation infrastructure projects such as motorways, railway infrastructure, metropolitan networks and airport terminals
Assystem STUP India managing director Ashish Tandon said: "STUP brings to Assystem proven capabilities and a strong human resource network with deep expertise, demonstrated in their best-in-class solutions for the Indian market."
The deal is worth between €21 and €22 million and takes €1 million worth of debt into account.
Assystem, based on Innovation Centre Evolution Park, Haslingden Road, says that the deal will help the company to build a base in India and to participate in the nuclear power plant construction programme launched by the Indian government.
As plans currently stand, the 7,000 projects identified in the infrastructure pipeline have an estimated project cost of 111 trillion rupees, which Mr Tandon said offer major opportunities for design and project management for Assystem to take part in.
The company also plans to to set up a nuclear engineering knowledge centre in India and to expand its engineering services in areas beyond the nuclear sector.
An Assystem spokesperson said: "The new entity will seek to maximize new opportunities and prospects arising from India’s national infrastructure pipeline programme.
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