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Kirloskar Oil Engines Ltd (KOEL) plans on selling its power generation sets in the US, the world’s largest market, and Indonesia amongst new geographies, in the bid to more than double exports by 2018.
Towards this goal, the Pune-based engines and gen-sets maker will set up offices in the US and Indonesia during 2016, Executive Director R R Deshpande has said.
“More international markets are on our radar,” he said, adding that KOEL has recently invested Rs 75 crore to help transition to CPCB 11 norms and was now in a position to take its products to developed markets with more stringent emission norms.
The company’s current revenue from export of gen-sets to regions such as West Asia and Africa stood at Rs 200 crore, and the target was to take this to Rs 500 crore by 2018, he added. The power generation business accounts for around 40 per cent of the company’s income from sales.
Elaborating on KOEL’s plans going ahead, Deshpande said next year would see the addition of 750 and 1000 kVA gen-sets at its plant in Kagal. “The prototype is ready, and these will help us offer 85 per cent of the range of the competition,” he said, adding that even higher HP engines are in the pipeline to take the KOEL gen-set range from 2kVA to 2000 kVA.
Earlier, the company unveiled a new portable petrol gen-set as well as a new brand identity, changing its existing gen-set brand from Kirloskar Green to KOEL Green.
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