Kilburn Engineering forms JV for mechanical works projects in India

Kilburn Engineering Ltd. announced its board approved a binding term sheet with East End Technologies Private Limited (EETPL) to incorporate a joint venture company (JV). This JV aims to undertake projects in piping fabrication and erection, structural fabrication and erection, and pre-commissioning support for mechanical works within India. Target sectors include oil/gas, fertilizers, petrochemicals, and steel.

The JV company will be incorporated as a subsidiary of Kilburn Engineering, with a 60% shareholding for Kilburn Engineering and 40% for EETPL. The transaction does not involve any related parties or promoter interests. Kilburn Engineering will acquire shares in the JV for INR 600,000.

The JV's formation intends to leverage the companies' complementary strengths to pursue business opportunities. Definitive agreements are expected to be executed within 90 days from the term sheet date.