Engineering conglomerate Blue Star Ltd today announced that it has acquired 51 per cent stake in Oman Electro Mechanical Contracting Co LLC (OEMC), a 100 per cent subsidiary of W J Towell & Co LLC.
The joint venture entity called Blue Star Oman Electro-Mechanical Company LLC (Blue Star Oman) will offer Mechanical, Electrical & Plumbing (MEP) contracting services in Oman, a statement said.
The current MEP market in Oman is around USD 350 million and the Blue Star Oman aims to acquire in excess of 10 per cent market share in the next couple of years with a focus on residential, commercial, industrial and infrastructure projects. Blue Star Oman also plans to expand into the after-sales service business in Oman, the release said.
"WJ Towell & Co is a highly reputed 148-year old group which is well entrenched in Oman and is the perfect strategic partner for us to enter the market. I am confident this new venture will make deep inroads and create a significant difference to the MEP landscape in Oman," Vir S Advani, Executive Director & President- Electro Mechanical Projects Business, Blue Star, said.
W J Towell & Co is a renowned business group with diversified interests in Oman including real estate, construction, consumer goods, automotive, engineering and services.
