Dhruv Sawhney of Triveni Industries is serious about his latest joint venture. The turbine tycoon is in the news as he plans a JV with two Europe-based power companies for a technological and financial tie-up for Triveni8217;s power equipment business.
Written by Dilipcherian
3 min read
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Dhruv Sawhney of Triveni Industries is serious about his latest joint venture. The turbine tycoon is in the news as he plans a JV with two Europe-based power companies for a technological and financial tie-up for Triveni8217;s power equipment business. The original sugar magnate plans to spin off his turbine and gears division into a separate company, in which the overseas partner would have a stake. The tycoon wants to augment the range of his turbines and push them into a higher bracket altogether. However, the going may not be so smooth as some of the potential partners are demanding a controlling stake in the new company, since it is their technologies that will enable the increased capacity of Triveni8217;s turbines and other products. The tycoon we gather is not willing to concede the majority in the joint venture to the partner companies and he maintain that the demerger plan was built upon the identification of a really suitable partner. Power equipment being a technology-driven business, new technologies are however consistently essential. Although the tycoon is still focused upon finding a strategic partner, he is simultaneously not neglecting in-house R038;D to pull him through should the impending deal sour now, or in the future over issues of control.
A Last Resort
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Booze and airline tycoon Vijay Mallya is back to introducing new aspects of leisure and hospitality in India. The magnate who already operates three luxury resorts and a hotel in South Africa is now seeking to tap the potential of India, as a popular luxury resort destination. VJM Resorts, the tycoon8217;s private company, is developing three resorts in the Lakshadweep Islands with an estimated investment of Rs 100 crore. The luxury-oriented czar is also expected to unveil plans to develop resorts on mainland India, preferably Kerala. It seems that the magnate wants to leave no stone unturned to popularise his resorts. According to people in the know, Mallya has already identified several proposals through his associate, Krishnan Nambiar, who already operates a resort in North Kerala. The tycoon no doubt wants to add to the popularity of Kerala as a spa and resort destination by developing luxury resorts in the state. In a significant move, the Neelambari Resort, operated by Nambiar, has been linked to Kingfisher Holidays, a property of Kingfisher Airlines. The resorts add another feather to Mallya8217;s crowded cap as the tycoon expands his fleet with purchases of Airbus A330s at Kingfisher Airlines. The move is timed brilliantly as the proposal for a luxury resort could not have come at a better time than this when the domestic tourism and hospitality sectors are booming. With the resorts in Lakshadweep, Mallya is slowly covering all bases when it comes to hospitality. The Kingfisher companies include airlines, tourism packages and liquor, what more is needed to have a good time?
