Unimech Aerospace and Manufacturing Ltd, based in Bengaluru, has announced a joint venture with Yusuf Bin Ahmed Kanoo Company Ltd (YBA Kanoo) from the Gulf region. This collaboration will operate under the name “YBAK Unimech Advanced Manufacturing Solutions,” with Unimech holding a 51% stake and YBA Kanoo holding 49%.
Joint Venture Details
The partnership aims to establish a greenfield advanced manufacturing and remanufacturing facility in Dammam, Saudi Arabia. This initiative is backed by a phased joint investment of around USD 30 million. The venture is expected to generate cumulative revenues of approximately USD 80 million over five years, depending on market conditions and regulatory approvals.
Unimech specialises in precision engineering and manufacturing high-precision components for aerospace, defence, and industrial sectors. The company seeks to extend its expertise to international energy markets through this venture. The collaboration aligns with Unimech’s strategy to create a scalable energy manufacturing platform in the Middle East.
Strategic Alignment
Anil Kumar Puttan, Chairman and Managing Director of Unimech, stated that Saudi Arabia’s focus on localisation and industrial capability development aligns with Unimech’s strengths. He emphasised that partnering with YBA Kanoo allows them to build a locally anchored platform with strong market access and long-term relevance.
Ali Abdulla A Kanoo, Chairman of YBA Kanoo – Saudi Arabia, expressed commitment to supporting the Kingdom’s industrial development agenda. He highlighted the importance of building sustainable manufacturing capabilities in Saudi Arabia and looks forward to a long-term partnership with Unimech focused on quality and customer excellence.
The joint venture aims to serve upstream and downstream oil and gas customers across the Middle East. It will leverage Indian engineering and manufacturing expertise to create a scalable base for these markets. This collaboration reflects both companies’ dedication to advancing industrial capabilities in the region.
With inputs from PTI
