Joint venture in India is essentially a business agreement that is established between two different parties with respects to their possession of liabilities and assets. The concept of join venture is a legal concept established between many companies in India and there are even ventures among Indian companies and foreign companies.
There are many successful joint venture companies in India that strives to offer increased capacity and access to recent markets and distribution networks. It involves sharing of risks and costs with a partner with use of specialised staff and contemporary technology. A Joint venture company in the country is one of the most favored methods of entry model for foreign based companies for running their business in India. Below are the top 10 best joint venture companies In India 2018.
10. Indian Oil Skytanking Limited
Indian Oil Skytanking Limited was established in year 2010 as a joint venture between Holders-Ruchi Soya and Indian Oil. Ruchi Soya Industries Ltd is an Indore based company and Indian Oil Corporation serves the objective to manage with jatropha plantation hence both are complementing in their own way. Its business focuses on Bio-diesel value-chain implementation in state- Uttar Pradesh. The firm works to handle Jet Fuel for Airlines on behalf of the dealers.
9. Ratnagiri Gas and Power Private Limited
Ratnagiri Gas and Power Private Limited has started its operation as joint venture in year 2005 and currently known as India’s largest gas based power plant. It is basically a joint venture of NTPC Limited and GAIL India Limited and the firm even runs the LNG regasification terminal. The plant of this company is situated at Village Anjanwel, District Ratnagiri in Maharashtra state. The company’s project site is spanned in almost 1700 acres of mountainous coastal terrain that suggests its large production processes.
8. Indian Synthetic Rubber Limited
This is a joint venture between Indian Oil Corporation limited and Trimurti Holding Corporation, established in year 2010. Names of joint venture holders of Indian Synthetic Rubber Ltd are Marubeni Japan & TSRC Taiwan. It basically focuses on rubber projects in Panipat and even manages the implementation of styrene Butadiene. The branches of this renowned company are well connected with the National highways as well as railway station providing smooth convenience.
It has been noted that the country’s first world-scale E-SBR service has been established by Indian Synthetic Rubber Private Limited (earlier identified as Indian Synthetic Rubber Limited) in Panipat, Haryana. Its state-of-the-art, Greenfield service is a trail-blazing venture, which exemplifies global cooperation and synergy between international giants.
7. Mahanagar Gas Limited
Since year 1995, Mahanagar Gas Limited has secured top position in the list of best 10 joint venture companies in the country. This is a joint venture company that came into existence when BG Group (UK) and GAIL (India) Limited started a joint venture. This company is identified as the unarguable frontrunner in the delivery of natural gas in Mumbai and its adjacent regions. It has gained much popularity as the company provides facility of natural gas to over 8 lakh homes and also to more than 4 lakh vehicles.
6. IOT Infrastructure & Energy Services Ltd
IOT Infrastructure & Energy Services Ltd. is a joint venture established to not only deals with energy services, but also focuses on logistics and technical solution provider. The company was known since year 1996 and have included the asset and status of parent companies namely Indian Oil Corporation Limited (IOC), India and a foreign based company named Oiltanking GmbH, Germany. The company is engaged with building and running terminating services for petrochemical based products. IOT is also known to be a company with domain expertise in Terminalling, Engineering Procurement and Construction (EPC), Upstream Services and Renewable Energy.
5. Aavantika Gas Limited
The company was established in year 2006, as a joint venture of GAIL (India) Limited and HPCL. This company is active in the resource of Auto LPG, Piped Natural Gas (PNG), and Compressed Natural Gas (CNG) to several sectors in towns of Madhya Pradesh. Various sectors it covers are automobile, domestic, commercial and industries. Aavantika Gas Limited is doing fine since years and also in the last financial year; its overall revenue grossed was higher than Rs 140 Crore.
4. Indo Cat Pvt. Limited
Established in year 2006, located in Jawahar nagar Gujarat, Indo Cat Pvt. Ltd. is a joint venture whose holders are USA, Intercat. The area of operation that this company focuses is manufacturing and marketing of FCC additives as well as catalysts. The company has received great fame in the arena of manufacturing and distribution of numerous additives.
3. Delhi Aviation Fuel Facility Private Limited
Delhi Aviation Fuel Facility Limited supplies Aviation Turbine Fuel (ATF) to aircraft’s at famous airport named IGI Airport, located in New Delhi. This company is a joint venture between DIAL, BPCL and IOCL. Major services presented by this joint venture company are maintenance of fueling capacity, aviation fueling facilities and commission & start up.
2. Indian Oil Petronas Pvt Ltd
India Oil Petronas Pvt Ltd is known as a joint venture of Petronas and IOCL and its operation started in year 1998. Initially, this launched its terminals at Haldia and Ennore, which involves in business of import and export of Propane, Butane, and LPG. Major services presented by this joint venture company are stations reticulation, terminalling service, and auto LPG dispensing.
1. Petronet LNG Limited
Petronet LNG Limited is a foremost name involved in business of the Indian energy sector and deals with supply of Liquified Natural Gas. This company is a joint venture, made up of sponsored leading PSUs namely BPCL, GAIL (India) Limited, ONGC and IOCL. The company’s business is widespread as it runs two LNG terminals in Dahej, located in Gujarat and Kochi, located in Kerala. These LPG terminals are engaged in accepting, regasification and refilling of LNG. The approximate capacity of Dahej Terminal is 10 MMTPA and Kochi terminal is 5 MMTPA. Petronet LNG Limited Company is growing at faster pace and in the previous financial year, its overall revenue reached the level of Rs 39,650 Crore.
These are the top and prestigious Joint Venture Companies in India 2018 that have formed a new single firm by participation for purpose of business to serve consumers in better way. These Indian Joint Venture Companies has remarkable benefits like established contacts of the involved partners which supports in enhancing the process of setting up of operations and distribution/ marketing set up of the involved partner.