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Promac Engineering Industries Ltd, designer and manufacturer of cement plants, bulk material handling systems and other process plants has bagged export order of over $100 million to supply composite 2800 tpd grey/1750 tpd white cement plants to be set up at UAE.
“We are the EPC contractors for the entire project,” Mr Jayaram Reddy, Director, Promac said.
It will also supply a 1500 tpd rotary cement plant along with an 8 megawatt (MW) captive power plant at Tanzania, East Africa with the project size being $38 million, “To cater to this demand, the company is setting up a manufacturing plant in Harohalli Industrial Area, Karnataka and the unit is expected to be commissioned within 6 months time,” Mr Reddy said. He said it will invest about Rs 25 crore to set up the new plant which will double the capacity of the company.
The Bangalore-based company also plans to foray into mining and stockyard equipment, coal crushing plants and ship loading systems, he added.
Promac,today has an order book of over Rs 1,000 crore. It supplies equipment to Japan, South Africa, Central African Republic, Nigeria, Brazil, Nepal, Bangladesh and West Asia.
A US-based private equity firm, Tano Capital, has a 20 per cent stake in Promac in which it has invested about $8 million. With these orders, Promac Engineering expects to post a turnover of Rs 350 crore this fiscal, an increase of about 75 per cent compared with last fiscal.
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