Mr. M.J Shantharam launched the ‘Valdel’ group identity in 2000 with the acquisition of the engineering business of Kvaerner, USA’s Bangalore operations. The engineering business was further consolidated with an equity arrangement with S&B Engineers & Constructors, USA, a US $ 4 Billion EPC company.
In 2004, the engineering business was de-merged into upstream and downstream.
Mr. Shantharam brought in Larsen & Toubro to acquire a major stake in the upstream business and with that L&T Valdel Engineering Private Limited was formed, which today is one of the leading engineering companies for the upstream oil & gas sector. Simultaneously, he consolidated the downstream business with S&B Engineers & Constructors, USA, by opening the second engineering centre in Delhi to cater to the growing demand in the downstream oil & gas sector.
Current role