Sagar Asia, an aluminium extrusion and access system manufacturers in India, has announced the signing of two memorandum of understanding (MOUs)- one with NIJL Aircraft Docking of the Netherlands and the second one with Reroy Group Ltd (RGL), Ghana. While NIJL Aircraft Docking is a provider of maintenance stands, platforms and docks for the aviation, train, automotive, truck, space and shipbuilding industries, Reroy Group Ltd (RGL) is a company registered under the provisions of the Ghana Company Code, 1963, Act 179.

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The joint venture with NIJL Aircraft Docking, including the value of technology, engineering and infrastructure, has an outlay of about Rs 100 crore and will bring a revenue of Rs 500 crore by exporting aviation docking systems globally.

“This joint venture will allow Sagar Asia to contribute to the nation's drive to limit foreign exchange outflows, provide more job opportunities, and strengthen the Indian MRO industry. It will also encourage India’s substantial advancements by developing a sustainable end-to-end ecosystem for commercial, general and military MRO activities,” the company stated.

This MOU will serve as a foundation for mutual collaboration, providing a framework for cooperation and outlining the key terms, responsibilities, and commitments of both parties involved, it added.

On the other hand, SAPL and RGL intend to start a joint venture company in India and/or Africa as a JV company for designated Sagar Asia products. The JV company will be catering to the territory of Africa and/or Indian and Global markets, the company said.

SAPL will set up facilities in Ghana to manufacture a select range of products from their product basket for consumption in Africa and exports to Europe and other countries in Africa. SAPL shall design the layout, install and commission the equipment with trial runs and shall depute managers from Indian factories, it stated.

First Published:Jul 4, 2023 11:50 AM IST