Shaw buys out Rolta India’s share in joint venture

Shaw has reached an agreement to buy out Rolta India’s 50 per cent ownership in Shaw Rolta, a joint venture formed in 2004, for a net price of $23m (£14.4m).

Shaw will assume full ownership and control of the operations in Mumbai, India, which immediately will expand to provide engineering, procurement and construction management services for power, process, environmental and infrastructure projects worldwide.