Saipem Takes 50% Stake in Indian Engineering Company
Saipem has acquired 50% of the Indian engineering company Triune Projects, for US $10 million.
Triune Projects, based in New Delhi, provides specialized engineering services for the oil & gas industry and employs 320 people.
The acquisition of the 50% stake in Triune Projects will further strengthen Saipem's engineering capabilities in India, where it already owns 100% of SIPS (Saipem India Projects Services Ltd), an engineering company based in Chennai which employs 500 engineers.
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