New Delhi [India], May 26 (ANI/NewsVoir): UK-based global conglomerate SRAM & MRAM Group and Malaysia-based, Petrichor Capital Group have announced that they are in the advanced level of talks for aligning their Oil and Gas trading businesses.
As part of the proposed Joint Venture, Petrichor's trading business will be re-structured as a division under SRAM & MRAM's core business entities and their holding company and will be used as the vehicle for all oil and gas-based trading opportunities that SRAM & MRAM group will pursue. This division is expected to generate a turnover of over 1 bn USD in 2023.
Petrichor, in the past 6 years has built a reputation as the go-to company for any oil and gas trading deals and development and execution of BOT (Build Operate Transfer) contracts in the Energy domain. Their expertise in handling maritime transport has just added to their already ensemble portfolio. One of the leading EPC contractors in the Oil and Gas industry Petrichor is destined to bring SRAM & MRAM's Oil and Gas portfolio to the limelight. Along with their existing expertise they are also the undisputed market leader in one-stop-shop liaising with banks, financial institutions, export credit agencies and insurers with respect to their oil & gas and shipping business.
Rakesh Patel, a visionary and a Director in both SRAM & MRAM and Petrichor Group, is the brainchild behind the proposed Joint Venture plan after sensing the potential added value of the brand SRAM & MRAM and Petrichor.
Speaking on the development, Hemalata Arumugam, CEO, SRAM & MRAM Group, quoted, "We are delighted with this powerful alliance. Not only are we expecting a successful business from this alliance, but also cultural success. The Petrichor team brings a highly motivated and knowledgeable team who will be a good cultural fit and add value to the SRAM & MRAM family."
"The group is ecstatic with the alliance which has been signed off after observing the potential added value; the association will help the group explore and tap their existing transactions. Besides, the Petrichor team also brings a highly motivated and knowledgeable team who will be a good cultural fit and add value to the SRAM & MRAM family as well," quoted Thomas Mathew, Director-Group Financial Operations, SRAM & MRAM Group.
The multi-dimensional SRAM & MRAM Group is a leading investor in global markets, with its core interests in Agro-products and Information Technology, with footprints spread across multifarious services, verticals and operations viz., Neural Networks, Artificial Intelligence, Hedge Fund Management, FOREX Management, Hospitality Services & Solutions, Information Technology, Media & Publishing, Embedded Systems and Infrastructure, etc. On the other hand, the group has been investing heavily in the European and APAC markets.
Sridhar Subramanian, Executive Director and Group CFO, Petrichor Capital Group said, "We are equally excited about this alliance. Petrichor has grown to a point where we seek to become part of a global group that can provide the right platform for our ambitions. We feel that the platform provided by SRAM & MRAM will provide the right impetus for our ambitious growth plans and help us reach the pinnacle of success."
"Petrichor has grown to a point where we seek to become part of a global group that can provide the right platform for our ambitions. We feel that the platform provided by SRAM & MRAM will provide the right impetus for our ambitious growth plans," added Vaidyanathan Nateshan, Group CEO, Petrichor Capital Group.
Petrichor is a leading Petrichor Capital and Trading is leveraging its extensive financial services spread over 5 countries with clients and suppliers from various global locations. Coupled with its trading expertise the brand adds value to manufacturers and end customers through its uniquely diversified product offerings. It specializes in trading a diverse range of products in the Healthcare, Food, Agriculture, and Petroleum industries.
Our strong relationship with banking partners and financial institutions, along with our team of experts, leads us to provide unique advice and recommendations for the routine trading roadblocks that companies usually encounter. We facilitate solutions that protect you against international trade's unique inherent risks, such as currency fluctuations, political instability, issues of non-payment, or the creditworthiness involved.
For more information, kindly visit: www.petrichorcaps.com.
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