Indsur Global, a part of the Mumbai-based diversified Indsur Group and a leading exporter of power and castings equipments, has completed the first phase of its Rs 150-crore modernisation and expansion project at its Halol plant near here.
The company produces a wide-range of steel pipes, wires, castings and copper wire rods at the plant.
“Most of the Rs 150-crore investment has gone into modernise and expand the capacity to manufacture various critical power infrastructure castings. The new facility would ensure a robust export market share and will compete with China,” Company chairman and managing director S M Lodha told PTI today.
With the completion of the first phase expansion, the capacity at the plant has gone up to 12,500 mt per annum from 7,500 mt. This would be further enhanced to 25,000 mt by March 2015. A substantial portion of the expanded capacity would be used for exports, he added.
With this capacity expansion, the company estimates to increase its market share in Europe from the present 15 per cent to around 25 per cent by 2015, Lodha said.
“We began our modernisation at a time when the global market was down and have begun completing phases of our modernisation as the market, especially is Europe, recovers. Given our already existing reputation in the European market, our investments will put us in a very strong position to increase our marketshare significantly,” Lodha said.
Indsur Global has a significant market presence in Europe especially in Austria, Germany and Italy among others.
Indsur Group has diversified businesses in auto components, castings, steel pipes, thermal engineering etc and has plants in Britain and Saudi Arabia apart from the domestic market.