German agro-component groups plans for expansion Punjab

Chandigarh, July 20 (UNI) A delegation of the German Agro-Component Manufacturing Group CLAAS, a 100 per cent subsidiary of CLAAS KGaA MbH and a 2.4 billion Euro German Group today called-on Punjab Chief Minister Parkash Singh Badal to discuss the expansion plan of the Group in the state.

The Managing Director of the company Pradeep Kumar Malik informed the Chief Minister that the Group was setting up a manufacturing plant at Morinda at the cost of Rs 112.24 crore on a 22 acre land to manufacture combine harvesters and agri-machinery components. They informed the Chief Minister that the group, a technological leader in the world in the area of agri-machinery enjoyed more than 30 per cent market share in Europe for harvester combines.

The group also enjoys a 50 per cent market share worldwide for forage harvesters.

The facility in Morinda is the second manufacturing unit of the Group in India. The first Indian operation of the CLAAS group started in 1993 at Faridabad in joint venture with Escorts.

The Morinda unit would provide direct employment to 300 Punjabi youth and indirect employment to thousands of youth in downstream ancillary units. The Chief Minister wishing success to the company said the Punjab government was all set to promote agro-processing and agro-machinery component industrial units in the state.

He said it was the first 100-per cent German investment in Punjab and hoped that investment by this group would have a catalytic effect on foreign investment in the state.

Prominent amongst those who were present in the meeting included Chief Secretary R I Singh, Principal Secretary to Chief Minister D S Guru, Principal Secretary Industries and Commerce A R Talwar and Director, Industries Sanjay Kumar.

UNI