France-based Assystem and India’s Axiscades Engineering Technologies Ltd announced on 20 June that they had formalised their agreement to inaugurate a joint venture (JV) company, Assystem Axiscades Engineering Pvt Ltd (AEAC), to be based in India. The new company will undertake engineering services for the energy sector business for Indian and global utilities and contractors. The JV will start its operation in Hyderabad and plans to open two more centres in Delhi and in Mumbai with proximity to key customers. It plans to employ over 500 engineers in the next three years.

Indian IT and Industries Minister KT Rama Rao inaugurated the company in the presence of Assystem Chief Operating Officer Stephane Aubarbier and Axiscades Vice Chairman Sudhakar Gande. “We welcome Assystem coming to Hyderabad and setting up a JV with Axiscades,” he said. “We will extend full support for this move and wish the best for both the companies.” Aubarbier said the new partnership “will strengthen Assystem’s positions in India and Asia while significantly expanding the portfolio of comprehensive range of services for our customers”. She added: “We are convinced by the value addition of this partnership, which will provide to our clients both the solid knowledge of the Indian market of Axiscades, and the international experience and the historical know-how of Assystem in the energy and infrastructure sectors.”

Axiscades, a leading product engineering and high technology solutions company, with more than 2300 engineers worldwide, is headquartered in Bangalore. It has 14 engineering centres worldwide including North America, Europe and Asia. Assystem, an international group specialised in engineering, generated €450m in revenue in 2017.