Joint Ventures are essential for even some major companies to possess the feature each other is lacking. In simple words, it is like a symbiotic relationship between two companies where they have business agreements with respect to each other’s assets and liabilities. This establishment of relationship can occur between companies of the same field or of other different sectors, and the goal is beneficial for both the parties.
Successful joint-venture often led to increases in capital and greater access to each other market and distribution network. Joint ventures should not be confused with a company buying another company’s share. Joint ventures may also be seen between companies of different nations where the foreign company comes and work on a project together to benefit both. It is important to mention that successful joint ventures have not only benefited them but has shared benefit to country’s economics also.
Joint ventures indeed the financial investment risk as a share of investment divide and is also a way that most foreign companies use to introduce themselves in the Indian market. Most of the famous joint ventures are in the petroleum industry. Below are some of the greatest joint ventures in 2019 that India has ever witnessed:
Table of Page Contents
- 10. Ratnagiri Gas and Power Private Limited
- 9. Indian Synthetic Rubber Limited
- 8. Mahanagar Gas Limited
- 7. Indosat Private Limited
- 6. IOT Infrastructure & Energy Services Ltd
- 5. Aavantika Gas Limited
- 4. Delhi Aviation Fuel Facility Private Limited
- 3. Indian Oil Petronas Private Limited
- 2. NSPCL
- 1. Petronet LNG Limited
10. Ratnagiri Gas and Power Private Limited
They have started their operation as a joint venture from the year 2005. Currently, they are our nation’s largest and hugest gas-based power plant. This joint venture is basically between GAIL India limited & NTPC limited. The firm is even known to run LNG re-gasification terminal. Their plant is situated in the district Ratnagiri, at village of Anjanwel, in the state Maharashtra. Their project size is around 1700 acres mountainous coastal region that suggests their large production process.
9. Indian Synthetic Rubber Limited
This joint venture is established in the year 2010 between Trimurti Holding Corporation and Indian Oil Corporation limited. They basically focus on rubber projects and work around Panipat and are also known to manage the implementation and good use of styrene Butadiene. This joint venture’s holders are Marubeni Japan and TSRC Taiwan respectively. Their branches are well attached and connected with the railway stations as well as National highways for the purpose of smooth convenience. India’s first global-scale E-SBR service was first established by them only in Panipat.
8. Mahanagar Gas Limited
This is the result of joint venture between BG Group of UK and in India GAIL. They are identified as the best and unarguable frontrunner in the services like delivery of natural gas in Mumbai or other surrounding regions. By providing natural gas to over 8 lakh houses and to over 4 lakh transport vehicles they have gained enough popularity.
7. Indosat Private Limited
This is a joint venture holders are the USA, Interact and was established in the year 2006. Their company is located in Jawahar Nagar, in the state Gujarat. Manufacturing and marketing of FCC addictives and Catalysts are the main area of operation the company focuses on. In the field of manufacture and distribution of wide range of addictives, they have received enough fame making them rank in the seventh position in the list of top joint ventures in India.
6. IOT Infrastructure & Energy Services Ltd
Their joint ventures not only deal with the energy services and other related things but also focus on technical solution providers and logistics. The company is established in the year of 1996 and contains the assets and status of few other parent companies which are Indian Oil Corporation Limited and Indian and a foreign company called Oiltanking GmBh which is Germany based. Running terminating works and services for petrochemical-based end products are the sole work of the company. They have expertise in Engineering Procurement, Terminalling, renewable energy and upstream services.
5. Aavantika Gas Limited
This company is the product of joint venture between HPCL and GAIL Indian Limited. This venture is started in the year of 2006. The main domains they cover are domestic, commercial, automobile and industries. They are mainly active & act dynamic in the resource of Compressed Natural gas (CNG), Piped Natural Gas and Auto LPG to the several sectors of the state Madhya Pradesh. In the recent gone financial year, they are known to have an overall revenue gross of Rs 140 crores which is the clear indication of their excellent work.
4. Delhi Aviation Fuel Facility Private Limited
They are known to supply the Aviation Turbine Fuel (ATF) headed for the aircrafts at IGI Airport of New Delhi. The company is the result of joint venture among BPCL, IOCL and DIAL. The major services they are known to provide include maintenance of star up, fuelling capacity, commission, and aviation fuelling facilities.
3. Indian Oil Petronas Private Limited
It is the joint venture between the IOCL and Petronas. They have initiated their cooperation in 1998. Initially their business involves the export & import of Butane, Propane and LPG gas. They have their first terminals at Haldia and Ennore. The major services they provide are terminalling service, automatic LPG dispensing and stations reticulation.
This joint venture is the product of 50:50 association between SAIL and NTPC limited respectively. They are primarily engaged in the power generation to satisfy the power requirement of various steel plants across India. They have their headquarters in Delhi and were founded in the year 2001. Bhilai, Rourkela and Durgapur are the main steel plants getting power supply from them.
1. Petronet LNG Limited
They are the dominant company in the energy sector. They deal with the supply of LPG. This private company is the result of joint venture between GAIL India, BPCL, ONGC and IOCL. They have a widespread business running the couple of LNG terminals in region of Dahej in Kochi & Gujarat. This company is developing and growing day by day in a faster yet strategic pace and have a revenue collection of 39,650 crores INR in the last financial year.
So these were few of a major couple of companies that went for Joint Venture and are successfully enjoying it. Because of their correct agenda, strategy and tactics, they all are ought to be in positive conditions for years now. They have uplifted the nation’s economy too and are providing some of the best services that may have been impossible individually otherwise.