Strategic Alliance Of Aarvi Encon In Middle East Countries

MUMBAI, India, Jan. 19, 2021 /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 percent controlling stake and the local owner at Oman would own the balance 30 percent 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.

Commenting on the joint venture, Mr Jaydev Sanghavi, Executive Director, Aarvi Encon Ltd. said:
"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."

About Aarvi Encon Limited:

Incorporated in 1987, Aarvi Encon pioneered the concept of Technical staffing services in India. Aarvi is India's leading technical staffing company, which specializes in providing expert engineering staffing solutions. Services Offered include Deputation of Technical Staffing, Project Management, Construction supervision, Inspection Services, Pre-Commissioning & Commissioning Assistance and O&M Services. The company has deployed over 30,000 personnel since inception and has current deployed team strength of more than 4,000 professionals. It has leveraged its track record in India to successfully expand its operations internationally, providing a wide range of engineering services on various international projects, particularly in the UAE, and Kingdom of Saudi Arabia.

Safe Harbor:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.