Triune's Tryst with Bridging the Breaches

On November 23, 1998, Petrobras the $18 Billion Rio de Janerio based Oil Exploration Company Commissioned a 200, 000 Tonne Floating Production Storage and Offloading (FPSO) at the Marlim Oilfields in Brazil. Its first such Platform it was built on a Crude Carrier by the Global Engineering, Procurement and Construction (EPC) Contractor, the $2.78 Billion Hyundai Heavy Industries (HHI) and bridging the gap between Brazil and Tokyo was the Rs. 15.41 Crs. Triune Projects Private Limited (TPPL), responsible for the entire Engineering, Procurement  and Construction Support for the facility's Crude Processing Unit.

A minnow in the hunting grounds of the Oil, Gas and Petrochemicals Businesses - Where the Big Boys don't only play at night Triune was Promoted by the Delhi Based Binoy Jacob. Although it is a Fledging compared to the Rs. 308 Crs. Engineers India Limited (EIL). Triune has grown from a Rs. 38 Lacs. start-up in 1990 to a Rs. 15.41 Crs. in 1997-98

Says the soft spoken Jacob, 48, who owns 96% Equity stake in the Triune; " I wanted  to start something would sustain my interest indefinitely and provide me vat growth potential. Engineering was the only area that could do for me." It, however, took Jacob a while to figure that out.

FACTFILE

NAME:Binoy Jacob

AGE: 48 yrs

EDUCATION: B.A., St. Stephen's College 1972, Diploma in Hotel Mgmt, Oberoi Institute of Hotel Mgmt., Delhi 1975.

BUSINESS: Design and Engineering Consultancy for Oil and Gas, Refineries and Petrochemicals.

INITIAL INVESTMENT: Rs. 5 Lakh.

TRACK - RECORD: Turnover grew from Rs. 0.36 Crs. in 1990-91 to Rs. 15.41 Crs. in 1997-98

MANAGEMENT PHILOSOPHY: Allow Professional Managers to run the Company.