Jacobs picks up minority stake in Consulting Engineering ServicesAugust 8th, 2008 - 5:31 pm ICT by IANS
New York, Aug 8 (IANS) Global engineering and technical services giant Jacobs Engineering Group of the US has picked up - through one of its arms - a minority stake in Indian consulting major Consulting Engineering Services (CES), it said in a statement Thursday. It, however, did not disclose the terms of the deal.
CES is a leading infrastructure and civil engineering company headquartered in New Delhi.
The company employs more than 2,000 people engaged in consulting, engineering, and construction supervision of projects in surface transport, seaports, airports, water management systems, environmental clean-up, buildings and facilities, and power.
Jacobs president and chief executive Craig Martin said in the statement: “Our investment in CES adds to our 2,000-person-strong existing presence in India, complements our process industry strength there, and gives us access to resources to address the strong, emerging infrastructure market in India and in other regions in Asia and the Middle East.”
“CES has an impressive track record of large-scale civil and infrastructure projects such as highways, bridges, ports, airports, railroads, power plants, architectural services, environmental clean-up, and water supply and sanitation facilities,” he added.
“CES is able to benefit from our complementary skills and global markets, and working with Jacobs creates the largest consulting engineering and construction force in India,” Martin said.
CES chairman and managing director S.S. Chakroborty said Jacobs would provide planning, engineering, and project management services for the growing infrastructure and related sectors in India and abroad.
“We are proud to have this strategic alliance, and look forward to rapid growth and enhanced impact for both companies. The combined operations of CES and Jacobs make for a formidable force in India and the surrounding region,” he said.
Jacobs, with over 55,000 employees and revenues exceeding $10.0 billion (Rs.420 billion) provides technical, professional, and construction services globally.
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