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MACHINIST - Shakti Pumps breaks ground for Booster Pump manufacturing unit at Pithampur

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Home arrow News arrow Business News arrow Shakti Pumps breaks ground for Booster Pump manufacturing unit at Pithampur

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Shakti Pumps breaks ground for Booster Pump manufacturing unit at Pithampur
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Written by Vivek   
Saturday, 06 August 2011

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Indore: Shakti Pumps carried out ground breaking ceremony for its new Booster Pump manufacturing unit at Pithampur, Indore in Madhya Pradesh. The new manufacturing unit will be operational by 31st Dec 2011 with an annual capacity of 40,000 pumps.

The company has proposed to invest Rs 400 million for this project. The upcoming Booster Pump manufacturing unit will add new products to the company's portfolio and help it enter a new market segment with higher margins. The facility is expected to generate a turnover of Rs 120 mn and Rs 560 mn in FY12 and FY 13 respectively.

The new manufacturing unit is coming up adjacent to the existing unit and is spread across 65,500 square feet.

Of the total proposed investment of Rs 400 million, an equity component of Rs 187.50 million has already been raised from IFCI Venture Capital Limited (under Green India Venture Fund) and Rs 100 mn each has been sanctioned from State Bank of India and Punjab National Bank as Term Loan.

The ground breaking ceremony was carried out by Mrs. Geeta Devi Patidar, mother of Chairman and Managing Director Mr Dinesh Patidar in the presence of eminent people, members of the Patidar family and employees.

 
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