Shell Bitumen partners with Tiki Tar Industries to enter Indian pavement sector

October 21, 2019: Shell Bitumen on Saturday announced that they have incorporated a 50-50 joint venture with Tiki Tar Industries to form Tiki Tar and Shell India Pvt Ltd to sell bitumen in the Indian pavement sector. The company will supply and market an extensive range of bitumen products based on the Shell Bitumen product portfolio to customers in national and state highways, airport runways and village roads in India.

The Indian government plans to spend up to $1.17 billion to upgrade 125,000km of roads over the next five years to improve connectivity across the country. As a result, India’s bitumen demand is expected to remain strong in the near future.

Jason Wong, Vice President of Shell Global Bitumen and Sulphur, said “This partnership enables Shell Bitumen to grow our global footprint by expanding into India, one of the world’s fastest-growing economies and a key growth market for Shell. Together, Shell’s global brand and technology leadership and Tiki Tar Industries’ established manufacturing and supply chain networks are well-placed to cater to the growing demand for bitumen due to the expansion of road networks in India.”

Shell has it's bitumen research and development expertise and 125 years of global experience, while Tiki Tar has its manufacturing network and established a local presence across the Indian market. The company will sell the whole range of Shell Bitumen products related to the road paving industry, including base bitumen VG30/40, polymer-modified bitumen (PMBs), crumb rubber modified bitumen (CRMBs), natural rubber modified bitumen (NRMBs) and bituminous emulsions.

Rajendra Shah, Chairman of Tiki Tar Industries, said “It creates the opportunity to bring higher quality bitumen products to India to meet the country’s need for better roads and improved connectivity. Tiki Tar Industries has been supplying bitumen products in India for over 55 years; this joint venture is a major step for us. I look forward to working with Shell and growing our business together.”

Shell Bitumen is the world’s largest international bitumen marketer with customers in over 30 countries with more than 200 bitumen and asphalt related inventions. Shell Bitumen operates a global bitumen R&D Centre in Bangalore and a network of regional solution centres located in China, France and Thailand.

Tiki Tar Industries is an asphalt and bitumen manufacturing company operating in India since 1964. It is the largest private-sector bitumen company in India with six manufacturing units. Tiki Tar has 55 years’ experience in providing extensive bitumen product range to India and Nepal with infrastructure projects such as express highways and airports under its portfolio.