Siemens may look at specific projects with RIL
Experts discuss the possibilities of a reduction in cash reserve ratio and the repo rate in RBI’s credit policy announcement on 17 April.
India's Siemens Ltd may partner with energy-led conglomerate Reliance Industries Ltd for future security solution projects on a case-by-case basis, a senior official said, after the two companies declined to bid for an ambitious Mumbai project.
The two companies did not bid for a security project for the city of Mumbai, either individually or jointly, after declaring their intent in September to join hands together for developing homeland security applications for the Indian market.
"...for economic reasons we refrained from submitting the bid," said Tilak Raj Seth, executive vice president for infrastructure and cities sector at Siemens India.
On April 4, a business daily reported that the venture between the two companies may come to an end owing to differences over strategic and operational issues.
"There was no JV (joint venture). We offered in a consortium and this is now gone, because the bid is gone," said Armin Bruck, managing director, Siemens Ltd.
He said that the two companies may bid for projects in future if their product portfolios matched.
"Only time will show. If our portfolio is the right mix, then why not?" said Bruck.
Copyright@ Thomson Reuters 2012