Strategic alliance of Aarvi Encon in Middle East countries
Jan 19, 2021
Mumbai (Maharashtra) [India], January 19 (ANI/PRNewswire): Aarvi Encon Limited (Aarvi) has announced its further expansion in the middle east by incorporating a new entity in the Sultanate of Oman under the name of "Aarvi Encon LLC" through its wholly-owned subsidiary Company i.e Aarvi Encon FZE located in the United Arab Emirates, to market and provide Aarvi's services in the high growth middle east market to provide manpower deputation and operation and maintenance services across the middle east.
In the said joint venture arrangement, Aarvi Encon FZE would own 70 per cent controlling stake and the local owner at Oman would own the balance 30 per cent minority stake.
The partnership will enhance revenue generation on a consolidated basis as well as will play a key role in increasing Aarvi's market share in the Middle East by supplying additional manpower and identifying cross-selling and up-selling opportunities to deliver profitable growth for the company.
"The Middle East countries including Oman account for major countries for outsourcing technical manpower especially in the Oil & Gas Industry, where Aarvi has a strong presence and technical knowhow. This joint venture will provide manpower deputation and operation and maintenance services on a shared platform at optimized cost and is a pivotal moment for the company. Strong alliances such as this play a crucial role for Aarvi to increase its market share and increase international presence. By combining our resources we will be able to offer our services to more clients in the middle east and deliver profitable growth," said Jaydev Sanghavi, Executive Director, Aarvi Encon Ltd., commenting on the joint venture.
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