Companies

Thyssenkrupp eyes revenue of ₹4,000 cr in next 5 years

PTI Mumbai | Updated on October 03, 2019 Published on October 03, 2019

Riding high on rising demand for capital goods equipment across mining and cement segments, Thyssenkrupp Industries India is eyeing ₹4,000 crore revenue over the next five years, a senior company official said.

“The company, which has had a presence in India over the last five decades, has made the country a global centre of competence for energy, mineral processing, material handling equipment, and sugar industries,” Thyssenkrupp’s India Managing Director and CEO Vivek Bhatia told PTI.

“Backed by our strong technology and innovation capabilities in India, we are eyeing to double our revenues to ₹4,000 crore in the next five years,” he said.

Bhatia said that the company was betting big on the growth of capital goods equipment in the country to cater to the rising need for mining, cement, sugar and power sector in the domestic market.

“We are also leveraging our IoT (Internet of Things) solutions and other new technologies to develop next-generation equipment in India. We also aim to extend our technology expertise for chemical projects such as in the segments of fertilisers and coke plants,” he added.

The company is currently witnessing growth in the mining and aggregates business at a compounded annual growth rate (CAGR) of nearly 30 per cent and expects the momentum to continue mainly due to strong technology capabilities and strategic alliances.

Published on October 03, 2019
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