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16th Aug. 2010
CG signs pact with EIC Group Saudi Arabia

Crompton Greaves, through its subsidiary CG Holdings Belgium has entered into one more definitive memorandum of undertaking (MoU) with the EIC Group, headquartered in Saudi Arabia, for establishing a second joint venture company for consolidating its business presence in the EPC segment in Middle East countries.



It is estimated that the total equity capital of this second joint venture company will be USD 3 million, out of which, company`s shareholding will be USD 1.53 million, for a 51% shareholding.


This joint venture in the EPC segment will support the company`s earlier joint venture with the EIC Group, for the manufacture of medium power transformers in Saudi Arabia which was notified on Sep. 03, 2009.

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