Published On:August 29 2008
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Putzmeister embarks huge investment in Indian operations
Hyderabad: Putzmeister Concrete Machines, a wholly owned subsidiary of the $1.5-billion German concrete pumps major Putzmeister GmbH, has committed a total investment of Rs 500 crore in its India operations in five phases.
“We would have invested Rs 500 crore by 2012. We invested Rs 64.5 crore in the first phase. We have begun the second phase with an investment of Rs 125 crore,” Mr Andrej Hropot, Managing Director, said.
He said the company planned to export the concrete pump machines of different capacities to the neighbouring countries of Bangladesh and Sri Lanka, besides tapping opportunities in the burgeoning Indian infrastructure industry.
“At a later stage, we will export units to the South East Asian countries such as Vietnam and Malaysia and the Gulf region,” he said.
The company would soon come out with a policy that would allow construction companies to take the machinery on lease.
“We will give them an option of buyback,” Mr Parminder Gabri, Director (Sales), said.
Putzmeister was also in talks with at least two financial institutions to offer better financing options to the potential buyers and users of the machines.