Triveni Engineering & Industries (Triveni), one of the largest integrated sugar manufacturers in India and a market leader in its engineering businesses, today announced signing of a 10-year business agreement with GEAE Technology USA to locally manufacture the LM2500 gas turbine base and enclosure.

Under the agreement, GEAE Technology USA has licensed Triveni to locally manufacture the LM2500 gas turbine's base frame, acoustic enclosure, and lubricating oil skid and supply other source-controlled accessories that go into the LM 2500 gas turbine enclosure assembly.The LM2500 is the chosen propulsion gas turbine by the Indian Navy for many of its surface combatant vessels. The LM2500 gas turbine, with power ranging from 25 MW to 35 MW, are best in class naval propulsion gas turbines and are in service with over 40 navies globally. 

"Currently, Triveni is working towards providing critical technology and engineered solutions on multiple fronts to Indian Navy and Indian Defence industry. This agreement is another major step towards indigenisation of LM 2500 gas turbine and accessories in line with the 'Make in India' policy of the Government of India. We believe this arrangement is a major step in bringing the high-end technology indigenously to the Indian Defence as part of a long-term plan, which we at Triveni are well poised to contribute further through a strong portfolio of current and upcoming products," said  Tarun Sawhney, Vice Chairman & Managing Director, Triveni Engineering & Industries.

 Shares of the company gained Rs 13.25, or 7.04%, to settle  at  Rs 201.40.  The total volume of shares traded  was 156,560 at the BSE (Tuesday).