The Board of Directors of the Massa Izolyator Mehru Pvt. Ltd. Joint Venture summarized the results of work in 2020 and approved the plan for 2021
On 28 December 2020, the Board of Directors of the Massa Izolyator Mehru Pvt. Ltd. a Russian-Indian Joint Venture summed up the results of work in 2020 and approved the plan for 2021 at a remote meeting.
Massa Izolyator Mehru Pvt. Ltd. a Russian-Indian Joint Venture (MIM) was created by Russian company ‘Izolyator’ and Indian company ‘Mehru Electrical & Mechanical Engineers (P) Ltd.’.
The JV company shall be providing complete manufacturing and services of HV RIP bushings rated up to 420 kV in production facilities based at Bhiwadi, India.
The agreement on the establishment of MIM was signed by the heads of participating enterprises at the Izolyator International Technical Conference in India in May 2019.
On October 30, 2019, the Ministry of Corporate Affairs of India has issued a Certificate of Incorporation to MIM in compliance with the Indian laws.
Creation of MIM is indeed a specific project strategically targeted not only for the Indian power sector market but also aimed to become a part of the international professional community.
At the beginning of the meeting, which was held as a videoconference, the participants were welcomed by Chairman of the Board of Directors Alexander Slavinsky, Managing Director Sandeep Prakash Sharma and Strategy Development Director Ivan Panfilov.
Final remote meeting of the Board of Directors of the Massa Izolyator Mehru Pvt. Ltd. a Russian-Indian Joint Venture on the results of 2020 and plans for 2021
Then Deputy Chairman of the Board of Directors Dr. Ashok Singh, based on the analysis of the results of the 2020 business plan, presented to the Board the resulting financial and economic indicators of the MIM and summarized the impact of the COVID-19 pandemic on the operation of the enterprise. Continuing the topic, Business Development Director Andrey Shornikov also touched on the factors of coronavirus infection, which had one or another impact on the bottom line.
The Indian partners in the Massa Izolyator Mehru Pvt. Ltd. a Russian-Indian Joint Venture
Sandeep Prakash Sharma and Technical & Technology Director Pavel Kiryukhin focused on the achievements that made it possible to fully prepare the MIM for the start of production and sales of products. The key ones were:
- completed procedure of legal registration of the joint venture;
- installation of technological equipment and organization of production, localization in India of some of the components of the design of high-voltage bushings;
- preparation and delivery to MIM of the first batch of assembly kits of bushings;
- assembly and testing in MIM of the first batch of 252 kV transformer bushings with RIP insulation;
- certification on 4 December 2020 of the MIM by the Indian state power grid company Power Grid Corporation of India Limited after the corresponding audit of the JV.
It should be noted that the successful solution of those and some other tasks was largely facilitated by well-functioning remote interaction of all members of the Board of Directors. Periodic meetings are held in the videoconference mode, where all issues of enterprise development are raised and promptly resolved.
Members of the Board of Directors of the Massa Izolyator Mehru Pvt. Ltd. a Russian-Indian Joint Venture from the Russian side
The next speaker was Marketing, Sales and Sourcing Director Mandeep Prakash Sharma, who presented key information on business planning for 2021.
At the end of the meeting, the concept of the MIM brand promotion was proposed and approved. The brand combines the decades of experience of two steadily developing companies: Izolyator and Mehru Electrical & Mechanical Engineers (P) Ltd.