INDIA: Blue Star, India’s leading air conditioning and commercial refrigeration company, has acquired a 51% stake in Oman Electro Mechanical Contracting Co LLC (OEMC), a subsidiary of W J Towell & Co LLC.
The joint venture, named Blue Star Oman Electro-Mechanical Company LLC will offer mechanical, electrical and plumbing contracting services in Oman.
W J Towell & Co is a renowned business group with diversified interests in Oman. It has several businesses such as real estate, construction, consumer goods, automotive, engineering and services. The group represents numerous reputed multinational brands in Oman including Nestle, Unilever, British American Tobacco, Reckitt Benckiser, Mazda and Bridgestone, amongst others.
OEMC is a well-established MEP contracting company of the group and has executed several prestigious MEP projects under Towell Construction & Co LLC, the Group’s general contracting firm.
Blue Star is India’s leading engineering conglomerate with core businesses of air conditioning, commercial refrigeration, MEP contracting and after-sales service. It has a network of 32 offices in India, presence in 15 countries, five modern manufacturing facilities, 2500 employees and a turnover of nearly US$500m.
Blue Star Oman aims to acquire in excess of 10% market share of Oman’s estimated $350m market in the next couple of years. The focus will be on residential, commercial, industrial and infrastructure projects. Blue Star Oman also plans to expand into the after-sales service business in Oman.