Sembcorp Environment, subsidiary of Sembcorp Industries, is divesting its entire stake of 51% in Sembcorp Enviro (India) to partner Ramky International (Singapore) for $7.25 Mn, Straitstimes states. The move is line to streamline its businesses and sharpen its strategy for the Indian market.
Sembcorp Enviro (India) is a special purpose vehicle that owns a 51 per cent stake in SembRamky Environmental Management, a medical waste collection and treatment player in India.
The Singapore major SembCorp Industries had acquired a 51% stake in Medicare Incin Pvt Ltd, a wholly-owned subsidiary of the Ramky Group, Hyderabad, to enter the medical waste disposal business in India.
The JV company was called SembEnviroRamky, which suited Sembcorp’s expansion strategy in India as well as helping in internationalising its business at that time.
Ramky Enviro Engineers Ltd acquired the commercial cleaning, conservancy services, and car park management units from Sembcorp Environment Pte. Ltd in Singapore through its fully-owned subsidiary Ramky Cleantech Services Pte Ltd., in 2009.
Ramky is headquartered in Hyderabad with regional offices located at Delhi, Mumbai, Ahmedabad, Bangalore, Chennai, Bhopal and Kolkatta and over 50 project offices. It provides services in the areas of civil, environmental and waste management infrastructure.
Sembcorp is a provider of essential energy and water solutions to customers in Singapore, China, Vietnam, the United Kingdom, the UAE and Oman. The Group has total assets of over S$13 billion and employs over 9,000 employees.
Sembcorp Environment also has stakes in Singapore based SembWaste (100%), Sembcorp Tay Paper Recycling (60%) and Australia based SembSITA Australia (40%).
Recently , A unit of Sembcorp Industries, backed by investor Temasek, was planning to acquire a majority stake in NCC Power Project for R1500 Cr; In November 2009, Sembcorp through its wholly owned subsidiary Sembawang Shipyard had formed a JV with Kakinada Seaports Ltd to establish and operate a marine and offshore facility.; In 2006, the firm had sold Sembawang Engineers and Constructors Pte Ltd to Punj Lloyd Pte Ltd, an arm of Indian infrastructure firm Punj Lloyd in two tranches for a total of $25.33 million.
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