Engineering and construction consultants, Thyssenkrupp Industrial Solutions (India), on Monday said the company has entered into a contract with Nayara Energy to provide project management consultancy services for Nayara Energy’s upcoming petrochemical units in Vadinar, Gujarat.
The chief executive officer of German industrial giant Thyssenkrupp today announced his resignation, just days after he hailed the “historic” merger of the company’s steelmaking business with Tata Steel.
ThyssenKrupp Chief Executive Heinrich Hiesinger said he would restructure the German industrial conglomerate further after signing a long-awaited deal to merge its steel assets with those of India’s Tata Steel.
The signing of definitive agreements for the proposed joint venture between Tata Steel Europe and Thyssenkrupp will help the parent company in India focus on creating a strong Indian platform at a time when it plans to “double down” on its current capacity, Tata Sons chairman N Chandrasekaran said on Monday.
Tata Steel faces more pain before it can heal in Europe. German rival ThyssenKrupp has outperformed the Indian group since last September, when the two agreed a 50-50 joint venture to create Europe’s second-largest steelmaker.