Triveni gears up demerging its engineering biz

New Delhi, Oct 22 (UNI) The Rs 1,600 crore Triveni Engineering and Industries Ltd (Triveni) today said it is mulling over demerging its engineering business.

''It is under consideration by the board. Let's have a look when the sugar sector also starts turning,'' company's Chairman-cum-Managing Director Dhruv M Sawhney told reporters here.

However, he refused to divulge a timeframe for the demerger.

The Rs 1,600 crore Triveni today inked an agreement for an initial term of five years with General Electric Company's Oil and Gas business to manufacture compressors for the oil and gas industry.

''We are expecting 25-30 percent of the market by 2009,'' he said adding that the total market size for such compressors is about Rs 500 crore.

The company will design and assemble high-speed reciprocating compressors, used in gas lift, gas transmission and storage.

Triveni is the third-largest sugar manufacturer in India and a leading supplier of small-sized steam turbines (up to 30 MW), high-speed gears and water and waste treatment equipment.

GE offers a full line of high speed reciprocating compressors, ranging from 30 HP (22 KW) to 9,000 HP (6.7 MW), with a variety of piston rod load capacities and frame stroke combinations.

UNI