By: ICN Bureau
Last updated : January 16, 2021 12:47 pm
In the joint venture (JV), Aarvi Encon FZE would own 70 percent controlling stake and the local owner at Oman would own the balance 30 percent minority stake.
Aarvi Encon Limited has announced its expansion in the Middle East by incorporating a new entity in Oman under the name of Aarvi Encon through its wholly owned subsidiary Aarvi Encon FZE to tap the oil & gas industry.
The company will market and provide Aarvi’s services in the high growth Middle East market to provide manpower deputation and operation and maintenance services across the Middle East.
In the joint venture (JV), Aarvi Encon FZE would own 70 percent controlling stake and the local owner at Oman would own the balance 30 percent minority stake.
The partnership will enhance revenue generation on a consolidated basis and will play a key role in increasing Aarvi’s market share in the Middle East by supplying additional manpower and identifying cross selling and up selling opportunities to deliver profitable growth for the company.
Commenting on the joint venture, Jaydev Sanghavi, Executive Director, Aarvi Encon said, “The Middle East countries including Oman account for major outsourcing of technical manpower especially in the Oil & Gas industry where Aarvi has a strong presence and technical knowhow. This joint venture will provide manpower deputation & operation and maintenance services on a shared platform at optimized cost and is a pivotal moment for the company."
"Strong alliances such as this play a crucial role for Aarvi to increase its market share and increase international presence. By combining our resources we will be able to offer our services to more clients in the Middle East and deliver profitable growth,” added Sanghavi.