Press Release
MECON and SBICAPS sign MoU to form strategic alliance
Mumbai, November 30th 2013: MECON Ltd, a leading engineering consultancy and contracting public
sector under taking, under the Ministry of Steel, Government of India and SBI Capital Markets Ltd.
(SBICAPS), India’s leading Investment Bank and Project Advisor, today signed a Memorandum of
Understanding (MoU) to establish a strategic alliance for aligning and cooperating with each other in a wide
range of strategic business and commercial interest areas. Shri A. K. Tyagi, CMD, MECON Ltd., and Mr.
V.G Kannan, Managing Director & CEO, SBI Capital Markets Ltd. signed the MoU at Mumbai.
Under the MoU, MECON and SBICAPS will cooperate in the following areas of business:
 To utilise each other strengths and domain knowledge for better utilization of resources
 To dedicate a team, addressing exclusively to the needs of the large infrastructure projects which would be
financially appraised by SBICAP and where MECON Ltd., proposes to be the Technical
Advisors/Consultants;
 Joint usage of each other's existing marketing network; and
 Joint participation in new projects, whether in India or abroad, to be undertaken by them for the purpose
of utilization of their respective strengths in technical and financial consultancy and expertise
The strategic alliance between the two consulting giants is a significant step towards synergising their
strengths while retaining their identities in the rapidly growing advisory industry. SBICAPS and MECON
have been extending support and cooperation to each other in different fields. This alliance will not only
reinforce the relationship but also open an era of large-scale collaboration on strategic business and
commercial alignment.
MECON and SBICAPS have already begun working jointly on development of SPV models, leading to
setting up the Ultra Mega Steel Plants (UMSP) as guided by the National Steel Policy 2012. Both companies
share the common view of desiring to further develop this relationship, which led to the formation of this
MOU.
The alliance partners will establish a joint coordination group to monitor, guide and review the
implementation process of the MoU, which will be effective and operative for five years initially.
About MECON Ltd:
MECON Ltd is a public sector under taking under the Ministry of Steel, Government of India. A leading
engineering consultancy and contracting organization, offering full range of services required for setting up of
projects from concept to commissioning including turnkey execution. With a manpower of about 1500
experienced and dedicated engineers, scientists and technologists, having a network of offices spread across
the country and its experience in successfully completing more than 4000 diverse assignments, MECON is
one of the biggest consultancy organizations in the world. Equipped with an ISO 9001: 2008 certification and
strategic tie ups with several technology leaders, MECON has a huge clientele both from the government as
well as the private sector. It is listed as a Mini Ratna company with the Department of Public Enterprise
Government of India. MECON’s operational domain comprises of four Strategic Business units, Metals,
Power, Oil & Gas and Infrastructure.
About SBI Capital Markets Ltd:
SBI Capital Markets Ltd. (SBICAP), India’s largest domestic Investment Bank, began its operations in August
1986 and is a wholly owned subsidiary and investment banking arm of State Bank of India (SBI), the largest
commercial bank in India. SBICAP offers the entire bouquet of investment banking and corporate advisory
services. The service bouquet includes the full range of financial advisory services under one umbrella
covering Project Advisory and Loan Syndication, Structured Debt Placement, Capital Markets, Mergers &
Acquisitions, Private Equity and Stressed Assets Resolution. SBICAP is a global leader in the area of Project
Loan Syndication and has lent crucial support to the Indian infrastructure sector. Headquartered in Mumbai,
SBICAP has 6 regional offices across India (New Delhi, Kolkata, Chennai, Ahmedabad, Bangalore and
Hyderabad), 2 branch offices (Pune and Guwahati) and 5 subsidiaries - SBICAP Securities Limited, SBICAP
Trustee Company Limited, SBICAP Ventures Limited, SBICAP (UK) Limited and SBICAP (Singapore)
Limited.