October 21, 2019: Shell Bitumen on Saturday announced that they have incorporated a 50-50 joint venture with Tiki Tar Industries to form Tiki Tar and Shell India Pvt Ltd to sell bitumen in the Indian pavement sector.
The company will supply and market an extensive range of bitumen products based on the Shell Bitumen product portfolio to customers in national and state highways, airport runways and village roads in India.
The Indian government plans to spend up to $1.17 billion to upgrade 125,000km of roads over the next five years to improve connectivity across the country.
Jason Wong, Vice President of Shell Global Bitumen and Sulphur, said “This partnership enables Shell Bitumen to grow our global footprint by expanding into India, one of the world’s fastest-growing economies and a key growth market for Shell.
Together, Shell’s global brand and technology leadership and Tiki Tar Industries’ established manufacturing and supply chain networks are well-placed to cater to the growing demand for bitumen due to the expansion of road networks in India.”
Shell has it's bitumen research and development expertise and 125 years of global experience, while Tiki Tar has its manufacturing network and established a local presence across the Indian market.
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