Israel Military Industries chairman Arie Mizrachi: IMI will utilize all its accumulated military industry know-how and capabilities in this deal.
Israel Military Industries (IMI) has won an international tender to set up five chemical plants in India for NIS 550 million ($122 million). The turn-key tender is for setting up five fully-equipped chemical plants.
IMI will be the chief contractor managing the project. Israel's Bateman Engineering and India's Nicco Corp. (BSE:590028) will be subcontractors.
The plants will operate on the model of IMI's chemical plants in Ramat Hasharon. These plants serve IMI's munitions plants, which deliver to the IDF and other armed forces around the world. The Indian plants will be built in the northern state of Bihar over 24 months. IMI's munitions complex has set up an administration to manage the Indian project.
IMI chairman Arie Mizrachi said, "IMI will utilize all its accumulated military industry know-how and capabilities in this deal, while maximizing the synergy between the company's core businesses and management of large-scale international projects."
This is the second time that IMI has won an international tender for managing a large project as the chief contractor supervising Israeli and local subcontractors in the target country.
Published by Globes [online], Israel business news - www.globes.co.il - on December 28, 2004