Putzmeister to invest Rs 500 cr in India

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Putzmeister Concrete Machines
New Delhi, Oct 8: Putzmeister Concrete Machines Pvt Ltd, a wholly-owned subsidiary of Germany-based Putzmeister, today said it will invest Rs 500 crore by 2012 in the country as part of its overall expansion plan.

''We will invest Rs 500 crore by 2012 for expanding our overall India operations...specifically in our state-of-the-art Goa plant...out of the Rs 500 crore, we will infuse Rs 125 crore this year for upgrading and enhancing the capacity of Goa plant during the second phase,'' company Director (Service) Guenter Weinmann told reporters here.

In the first phase, the company had invested Rs 64 crore in its Goa facility, which is being developed in five phases.

The second phase expansion is expected to be completed by the mid-next year and in the upcoming phases, the company will focus more on developing in-house training centres, R &D and localisation.

The current manufacturing capacity of the plant is 200 stationary pumps and 60 truck mounted pumps and the company plans to raise it up to 1,000 stationary pumps and 400 truck mounted pumps by 2012, when the plant is expected to be fully operational.

Keeping in mind the high cost of its equipment, priced at in the range of Rs 20-35 lakh, the company has also tied up with ICICI Bank and HDFC Bank for providing easy finance to its present and potential customers.

Asked whether the company plans to add more equipment to its existing range, Mr Weinmann said, ''We will like to expand our product portfolio step by step.''

UNI

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