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.