Opinion - German Companies Are Betting Big On Punjab | SIKH PHILOSOPHY NETWORK
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Opinion German Companies Are Betting Big On Punjab

kds1980

SPNer
Apr 4, 2005
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INDIA
German companies are betting big on Punjab
Ruchika M Khanna
Tribune News Service

Chandigarh, September 11
When home-grown industrial units are moving out their investments, some German companies are reposing faith in the state’s growth story by hiking their investment and expanding their facilities in Punjab.

While combine harvester manufacturer Claas and auto component manufacturer Sigma Freudenberg Nok are looking at increasing their investments in Punjab, German wholesale retailer Metro Cash and Carry is also making its entry in the state.

Talking to The Tribune, Karl Jerg, general manager, Sigma Freudenberg Nok (SFN), which manufactures radial shaft seals, said the company was now looking at creating an additional manufacturing facility in Mohali with an investment of 3.5 million euros.

“We are running our facility at Mohali to full capacity. In order to enhance our production capacity, we are looking at creating another facility, which will start commercial production next year,” he said.

Claas India, too, has decided to expand its facility in Morinda. On the sidelines of a seminar on German Best Practices at the CII, Pradeep Malik, president and managing-director of the company, said the company’s board of directors had decided on increasing the plant’s production capacity from 1500 to 2000 units per annum.

“Though we have yet to decide on the quantum of investment, we will be increasing our production capacity and upgrading our paint shop and R&D centre. With the focus now on increasing export of combine harvestors from the Morinda plant, the company has decided to increase its investment here.

“So far, 20 per cent of our production is exported to South Korea, Pakistan and South Africa. We are now looking at increasing the share of exports to 30 per cent and service new markets like Thailand, Phillipines and South America from here,” he said.

Other than these two companies, Metro Cash and Carry also started its operations in Punjab beginning this month, opening its centre in. The company will open its second centre at Zirakpur and a third one at Jalandhar soon.

It has bought land for setting up these stores, each spread over an area of 1 lakh square feet and offering over 1800 items. The wholesale retailer is looking at an investment of Rs 900 crore in Punjab, to be made in a phased manner. The company will be sourcing a lot of fresh produce from local farmers, to be retailed through these stores. The company is looking at Punjab as a major sourcing hub for fresh produce for its centres across India.

http://www.tribuneindia.com/2011/20110912/punjab.htm#2
 

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