Top Omani firm in JVs with three Indian companiesApril 8th, 2008 - 5:19 pm ICT by admin
Dubai, April 8 (IANS) Leading Omani business group W.J. Towell has tied up with three Indian companies for real estate projects in the Gulf nation. The company, through its joint ventures with Piramal Group, Simplex Infrastructure and Talati & Panthaky, aims to develop real estate projects in Oman’s capital Muscat and other places.
“We are now entering a new phase in its (W.J. Towell’s) long history of success within the region,” media reports quoted W.J. Towell’s director in charge of Indian ventures Imad Sultan as saying at a press conference in Muscat.
“The association with these joint ventures will bring a new level of interest and expertise to the fore in all W.J. Towell construction and real estate activities.”
Anwar Ali Sultan, another director of W.J. Towell, said the company was looking at real estate development opportunities in “Muscat, Sohar and other places”.
India’s Ambassador to Oman Anil Wadhwa said: “For these giants of Indian industry, an association with W.J. Towell & Co in Oman will bring in synergy and will surely help to build and maintain close Indo-Omani relations.”
Piramal Group chairman Ajay Piramal said he could see dynamism in the Omani business community and “the country was ready to take off”.
While the Piramal Group has a turnover of over $1.1 billion, Simplex has executed over 2,100 construction projects all over India and across the world, including the Gulf nation of Qatar.
Talati & Panthaky director Shah Rukh Mehta said his firm was helping design more than 40 million square feet of residences, commercial properties, corporate headquarters, retail, entertainment, health and education facilities.
W.J. Towell is one of the oldest private sector organizations in Oman. It is a diversified group of companies with interests in property, trade, industry and services.