SRS capitalises on Indian trade mission opportunities
A major housing project in Tripoli, the Libyan capital, will feature concrete blocks made by machinery from SRS in Ballygawley, Co Tyrone.
SRS secured the business, its first in Libya and expected to be worth around £200,000, from its participation on Invest Northern Ireland trade missions to India.
The India hosted missions led SRS to link up with a marketing operation in New Delhi which then introduced the Northern Ireland company to a major Indian construction company involved in the Libyan government-backed building project in Tripoli.
Dr Vicky Kell, Invest NI Trade Director, welcoming the company’s latest success in international markets, said: “This is an important breakthrough for SRS in a substantial marketplace in North Africa, one with significant oil revenues and which is currently investing extensively in infrastructure projects such as social housing.
“The contract is also an excellent example of how our companies can ‘piggyback’ on India’s emergence as a global economy driven increasingly by companies focused on international business.
“A key element of our trade development strategy in India has been to assist our companies to develop business relationships with major corporations there which are engaged in international trade.
“We developed this approach because some of the world’s most successful companies are now headquartered in India and are well positioned in key markets such as the US, Europe, the Middle East and Africa. It makes good business sense for our companies to seek to become part of the supply chain of much larger enterprises in India,” added Dr Kell.
Julian Fegan, SRS Sales and Business Development Director, said: “Invest NI missions to India and other global markets have enabled us to expand our business through the many important contacts we’ve been able to make.
“It was following one of the Indian missions that I decided to tie up with an experienced operation there that would give us an ongoing presence in this huge marketplace.
“They introduced us to the construction company with the Libyan contract and this led to the deal to supply our block making machinery, a relationship which could lead to further business in Libya and other international markets.
“India, of course, is a massive marketplace in its own right but linking up with Indian construction and machinery companies expands the opportunities for our equipment,” Mr Fegan added.