Agarwal Jetley & Co advised Japanese manufacturing and engineering corporation Hitachi Zosen in the formation of a Rs 110 Crore ($22m) joint venture (JV) with Indian diversified engineering company ISGEC Heavy Engineering which was advised in-house.

Agarwal Jetley & Co managing partner Praveen Agarwal with partner Mandira Mitra and associate Garima Goel acted for Hitachi Zosen in its Rs 54 Crore ($10.8m) purchase of 49 per cent equity in the Indian JV, ISGEC Hitachi Zosen.

The JV brings together Hitachi’s engineering skills and Isgec’s manufacturing expertise to globally provide process equipment to refineries, fertilizers and petrochemical industries. It will be based in Dahej, Gujarat, and employ both Indian and Japanese personnel.