CHENNAI: CRI Pumps has opened a manufacturing unit in State Industries Promotion Corporation of Tamilnadu (SIPCOT)'s Special Economic Zone (SEZ) at Perundurai , Tamilnadu, at an investment of Rs 30 crore.
The unit, spread across 20 acres, will manufacture stainless steel submersible pumps, motors, vertical multistage pumps, pressure boosting systems and industrial pumps. The pumpsets produced in this unit will cater to sectors like industry, residential, irrigation, water supply, mining, oil & gas, buildings, waste water and civil projects.
"The manufacturing unit with a capacity to produce over 1 lakh pumpsets a year, will cater to the Export markets . The unit with a target turnover of 200 crore in the first year will supply to various countries worldwide and CRIs foreign subsidiary companies . In the second phase the company plans to invest 30-40 crore in near future for further expansion of this unit," G Soundararajan, vice chairman of the 1,100 crore company said.
The
SEZ unit would continue to utilize the CRI Groups R&D Division - Fludyn Advanced Technology Centre for prototyping and testing facilities, a statement from the company said.
Source : timesofindia.indiatimes.com