Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Corporate
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New Projects Volvo mulls manufacturing base in India Our Bureau
Bangalore , April 24 Volvo India has said it will consider setting up a manufacturing base for some of its construction equipment if it is able to get good volumes in the country. "We will take a decision on setting up a manufacturing base in India within the next five years," Volvo India's construction equipment division's head, Mr Mrityunjay Singh, told newspersons on Monday. He said to set up a base at least one of the products should sell 150 units per year. Mr Singh said during 2005, revenues from the division were around Rs 450 crore, which was nearly 90 per cent more than 2004. "We expect the same kind of growth this year too," he said. He said the Volvo EC 700 BPL excavator, which was launched in January in India costs around Rs 3 crore. The equipment imported from South Korea, gives savings of 20 litres per hour compared with its competitors in the market. The smallest of the excavators costs as less as Rs 10 lakh. The G390 used for mining and road building construction, imported from Canada, has so far sold 550 units in India since its launch in 1999, Mr Singh said. The grader costs around Rs 75 lakh. The construction equipment division, which was launched in 1998, has nine dealers across the country.
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