Indo Asian Fusegear Ltd. has entered a USD 8.5 million joint venture with National Company for Glass Industries (Zoujaj) and Saudi Arabia based Saudi offset Ltd Partnership for the manufacture of elec…
Indo Asian Fusegear Ltd. has entered a USD 8.5 million joint venture with National Company for Glass Industries (Zoujaj) and Saudi Arabia based Saudi offset Ltd Partnership for the manufacture of electrical products, it was announced on 24 January 2006. The newly formed Limited Liability JV will be known as “Saudi National Lamps and Electricals Company Ltd.” and will manufacture energy-saving compact fluoroscent lamps (CFLs) and HID lamps, the company said in a release. Indo Asian would be the technology partner in the venture and would provide technical expertise as well as plant machinery and equipment, it said. “Indo Asian with its Saudi partners and SOLP will focus on the fast growing opportunities in the Middle East by setting up this joint venture offering wide range of products in Saudi Arabia, the single biggest market in the middle East,” Indo Asian Chairman and Managing Director VP Mahendru said. Indo Asian is a worldwide supplier of circuit breakers and lighting equipment.