The Hindu Business Line : Era Group to invest Rs 1,600 cr in three years

NEW DELHI: Infrastructure major Era Group plans to invest Rs 1,600 crore in the next three years in various activities ranging from expanding construction equipment management division to setting up ready-mix concrete plants. While close to Rs 800 crore would be spent on importing machinery for the construction activities in the country, the company would invest Rs 400 crore in setting up nationwide network of 60 ready-mix concrete units in three years.

The group would also set up a plant for manufacturing pre-fabricated buildings in Nagpur with an investment of Rs 200 crore to cater to the country's western and southern markets for construction of warehouses and stadia.

"We are planning to import construction machinery like dozers and cranes from European countries and China worth Rs 800 crore to expand our equipment management division,'' Era Group Chairman H S Bharana told PTI.

The division, which comes under the listed group company Era Infra Engineering, will purchase used machinery from European countries like Germany and France while new equipment would be bought from China. Currently, the division has machinery worth Rs 20 0 crore, not only used by the group's real estate arm but also let out to other companies in the country. To cash in on the popularity of quick-fix solutions for the construction industry, the company will expand its ready-mix concrete division ten-fold from the current six units to 60 plants in the next three years. - PTI

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