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Schwing Stetter India, a construction equipment manufacturer for handling concrete, is diversifying its product range and expanding production capacity to tap market opportunities infrastructure.
The company hopes to set up a greenfield construction equipment manufacturing company with an investment of ₹100 crore in building, plant and machinery.
Land cost will depend on the location with the company hoping to set up the unit “ideally in Tamil Nadu”, close to its existing locations in Chennai, said Anand Sundaresan, Vice-Chairman and Managing Director.
Key areas
The new plant will double its production capacity of about 8,000 units a year spread across four units in the suburbs of Chennai. Addressing media persons on the company’s plans, he said Schwing Stetter’s product range has so far related to concrete equipment.
It will diversify to provide solutions covering concrete, non-concrete, industrial and environment segments.
The new product range will cover five key areas where infrastructure spends are happening – rural, urban, clean India mission, metro and high speed rail and expressways, tunnels and airports.
New products
Some of the new products include concrete pavers, plastering pumps, crawler cranes, motor graders, rotary drilling rigs and horizontal drilling machines for trenchless laying of cables. The products will include Gomaco, US and XCMG, China, brands apart from Schwing products.
The expansion in product range is in tune with the growing demand in the market. In 2016, major road projects had been kicked off, and now, railway projects and affordable housing projects are taking off in a big way.
Schwing Stetter, which reported a turnover of ₹1,130 crore in the calendar year 2016, expects to grow 33 per cent in 2017. It will showcase a dozen new products at the Excon 2017, Asia’s largest construction equipment fair to be held between December 12 and 16 at Bengaluru.
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