HYDERABAD, FEB. 2:
Japanese major Kobelco Hydraulic Crawler Cranes has started its commercial production at Sri City in Chittoor district of Andhra Pradesh.
Kobelco Cranes is the second Japanese investment at Sri City after Kobelco Construction. Sri City is a private-sector Special Economic Zone (SEZ) spread over 7,000 acres.
This is the first production facility outside Japan and the first foreign company to own a facility in India that specialises in the manufacturing of complete Crawler Cranes, according to a press release.
Kobelco started their construction in March 2011 and had become operational from November 2011.
It is spread over 40,000 sq mt and would produce 90 units comprising 100-tonne, 150-tonne and 250-tonne class cranes during 2012 with the capacity of the Indian plant at 100 units/year.
The company is planning to achieve 35 per cent of localisation in 2012, and increase it to 50 per cent in the near future.
“The Indian plant would soon cater to the markets in the neighbouring countries and would help us sustain and increase our market share in the growing construction equipment market in India,” said Mr Sin suke Izumi, President and Director, Kobelco Cranes India.
“The local manufacturing of cranes would reduce the cost of the cranes and will be made available in the price range of Rs 2.5 crore to Rs 10 crore.
"The company expects to acquire a market share of 20 per cent by 2015,” said Mr Isavo aide, Director, Kobelco Cranes, Global Operations .
“We are positive that the success of Kobelco in Sri City will attract more Japanese companies into Sri City, where 12 companies are already present,” said Mr Ravindra Sannareddy, Managing Director.
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