The Hindu Business Line : Schwing Stetter plans new plant

Ahmedabad, Dec. 21 Schwing Stetter (India) Pvt Ltd, a 100 per cent subsidiary of Schwing Gmbh, Germany, and a leading player in the Indian ready-mix concrete equipment industry, is considering to set up a manufacturing plant in Gujarat with an investment of Rs 300 crore, by 2010, to cater to the emerging need of construction-related machinery in the northern States.

With the Centre contemplating Rs 50,000-cr investments in infrastructure to stimulate jobs and purchasing power, Schwing Stetter anticipates demand for construction equipment to increase from the current Rs 1,200 crore to Rs 2,200 crore in the country’s organised sector.

In view of this growing demand and to cut down on overhead and transportation costs involved, the company is planning to set up a plant in a northern State, Mr Anand Sundaresan, Managing Director, told Business Line. The other States being considered are Uttarakhand and Jharkhand, but they are landlocked, he added. Schwing Stetter is looking for a 40-acre land for this plant that would generate anywhere between 600 and 1,000 jobs. The company was also in touch with Gujarat in this regard and is likely to sign an MoU during the Vibrant Gujarat Global Investors’ Summit, Mr Sundaresan said.

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