Triveni Signs Pact With GE For Manufacturing Compressors

New Delhi: General Electric Company (GE) has inked an agreement with Triveni Engineering and Industries Ltd for manufacturing compressors for the oil and gas industry in India. According to the agreement, Triveni will import bare compressors from GE''s facility in Wisconsin in the US, and will design and assemble high-speed reciprocating compressors which are used in gas lift, gas transmission and storage. The agreement would be for an initial term of five years. The company would engineer, design, manufacture and assemble the package at its Bangalore plant. The company hopes high-speed reciprocating compressor market in 2009 to be around Rs 500 crore, of which the collaboration is eyeing 25-30 per cent share. The alliance will help GE in having a manufacturing base close to customers in India.