Instrumental EPC Player: Driving New Waves Of Change
Part of the Shapoorji Pallonji Group, Sterling and Wilson is a 90-year old company which established as a trusted EPC solutions provider in the infrastructure and energy spaces.
Share with us your impact reactions on the EPC (Engineering, Procurement, and Construction) market for the current year, estimating the relative growth and demand potentials.
India has seen considerable growth over the last few years. As part of its Make in India initiative, the Government of India has spearheaded efforts towards the construction and infrastructure industries with close to $1 trillion in investments projected for the infrastructure sector between 2012 and 2017.
The country, now a $2.5 trillion economy, is poised to become the fifth largest economy, with growth majorly driven by investments in infrastructural development.
With the (infrastructure) sector expected to receive an additional budgetary expenditure of 5.97 lakh crores, the Indian EPC market will continue to see greater demand and growth in the coming years, with dominant players like Sterling and Wilson paving the way.
What is your business plan, in terms of expansion and development, for the progressive year-2018?
Over the last five years, Sterling and Wilson has seen strong success across majority of its business verticals. With a strong presence in turnkey MEP services, data centres, renewables, diesel generators, cogeneration, storage and hybrid solutions and transmission & distribution verticals, MEP continues to be at the core of the company’s business and growth potential.
In addition to the integration, under the MEP umbrella, the company has ventured in to five new services – Industrial Fire & Safety, Flue-gas desulfurization, Process Control & Instrumentation, Industrial Clean Room EPC and IBMS Special Projects (Smart Cities & Defence Segments) as the next wave of growth for the MEP business.
How would you predict the year 2018, along with giving reaction on the budget announced for the industry, in terms of the market opportunities for remaining competitive?
During the recent budget, Finance Minister Arun Jaitley announced that going forward, an allocation of about INR 50 lakh crore would be required for the infrastructure sector in India.
Over the next 20 years, the sector is expected to see close to $650 billion along with a surge in infrastructural development in India. As the industry continues to see increased demand, dominant players such as Sterling and Wilson are keeping in line with this, with the company currently contributing to more than 25% of the passive infrastructure space in India.
As the EPC industry continues to require greater and more efficient management of engineering and construction services, it will significantly increase market growth opportunities for leading EPC players such as Sterling and Wilson.
Part of the Shapoorji Pallonji Group, Sterling and Wilson is a 90-year old company which established as a trusted EPC solutions provider in the infrastructure and energy spaces. From being a predominantly India-focused company till 2010, Sterling and Wilson now operates in 20+ countries with a strong presence in regions such as the Middle East, Africa, Europe, the Americas and Australia.
The company will continue to expand its MEP business in India, including a market share of 15% and future plans to penetrate in to foreign geographies such as Bangladesh, Bhutan and Nepal and beyond.
Is there is something you would like to share with your audience at large, as in discussing your trade principals and motives?
Sharing his views on Sterling and Wilson’s growth in the MEP business, Mr. T.P. Prakasan, COO – MEP business, Sterling and Wilson says “Sterling and Wilson has always prided itself on seeking innovative solutions, undertaking path breaking initiatives and looking ahead. Our robust expertise in infrastructural solutions has allowed us vast potential across multiple sectors, whether it is for MEP, data centers or renewables. The integration of the five MEP services – Electrical, Firefighting, Plumbing, IBMS and HVAC will prove to be a major growth driver for the company, resulting in close to 30% growth for the business in the coming 2-3 years. The integration will also pave the way for simultaneous, seamless services and timely project delivery for clients as well as reduced costs, time and coordination efforts for internal stakeholders. With the introduction of five new services and one of the largest teams of engineers, Sterling and Wilson remains instrumental in pioneering MEP services in India.
Today, Sterling and Wilson aims to drive a new wave of change in the MEP construction industry by impacting the way it is operating today. We have big plans to change the construction methodology, process, qualitative approach to the project deliveries, come out with MEP Training schools and make the industry more attractive to the upcoming young generation of talents to overcome one of the bigger challenges the industry is facing today.”
