New Delhi, NFAPost: Assystem S A, a leading international player in engineering with over 50 years of experience providing industrial infrastructures with engineering services, has announced the completion of its acquisition of 99% of the share capital of STUP Consultants Pvt. Ltd., a full-service engineering project delivery consultancy headquartered in Mumbai with operations all over India.
With this acquisition, Assystem aims to optimise its globally recognized nuclear engineering services by capitalising on STUP’s strong existing Indian base to support various players in the nuclear power plant construction program launched by the Government of India.
The company plans to additionally set up a nuclear engineering knowledge centre in India with the objective of becoming one of leading players in the sector in the country.
It will help the company leverage STUP’s team and networks to accelerate growth in the infrastructure engineering market in India. The new entity will seek to maximize new opportunities and prospects arising from India’s National Infrastructure Pipeline programme.
Also, it will drive international development and further strengthen its skills and expertise in non-nuclear infrastructure, particularly in:
Transportation – Roads, highways and expressways, airports and aviation, metros & railways, offshore and coastal engineering, etc.
Territorial and urban development – Smart cities, environmental engineering, water & agriculture development, etc.
Industrial complex buildings – Architecture, defence, industry, health and hospitals,
Non-nuclear energy – New uses of energy (renewables, hydrogen), grid, and power.
The infrastructure sector has become one of the biggest focus areas for the Government of India. An amount of Rs. 111 lakh crore (US$ 1.4 trillion) has been allocated under the National Infrastructure Pipeline for FY 2019-25 whilst the energy sector is expected to account for 24% of capital expenditure over FY 2019-25.
Assystem is determined to tap, through STUP, into this ambition and contribute to the country’s progress by accelerating energy transition through the rapid development of new infrastructure solutions, and increasing access to safe, stable, and carbon-free energy sources for citizens and economic players.
STUP Managing Director Ashish Tandon said STUP brings to Assystem proven capabilities and a strong human resource network with deep expertise, demonstrated in their best-in-class solutions for the Indian market.
“Combining this with Assystem’s rich portfolio of next-gen engineering offerings and long-standing global industry presence gives us ample opportunity to increasingly secure fruitful prospects, broaden our access to the energy and infrastructure market, and take a leading position in our customers’ development journey in India,” said Ashish Tandon.
Assystem CFO & Deputy CEO and Chairman STUP Philippe Chevallier and Assystem COO Stéphane Aubarbier said the company is extremely happy that STUP with its very experienced team is joining the Assystem group.
“We concur with Ashish that the combination of the capabilities of STUP & Assystem and the synergy created, will enable us to very efficiently serve the Indian energy and infrastructure space and Assystem’s international projects,” they said.
Established in 1963, STUP Consultants Pvt. Ltd. offers a comprehensive portfolio of services in transportation infrastructure engineering (motorways, railway infrastructure, metropolitan networks, and airport terminals). It also operates in the water treatment and energy sectors and has an excellent technical reputation in all its business areas thanks to its teams of highly experienced engineers. It was co-founded by two disciples of the renowned French engineer Eugène Freyssinet, Yves Guyon, and C.R. Alimchandani, and generates an annual revenue of some €20 million with an employee base of 1,100 across India.
Assystem is an international engineering group. As a key participant in the industry for over 50 years, the Group supports its clients in managing their capital expenditure throughout their asset life cycles. Assystem S.A. is listed on Euronext Paris.