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CRI Pumps to invest Rs 30 crore

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Coimbatore-based pumpset manufacturer will invest Rs 30 crore to enhance its capacity to 1 million pumpsets a year from the current 700,000-800,000, said its managing director G Rajendran.

The company had invested Rs 50 crore last year in its six manufacturing units located in and around Coimbatore.

CRI Pumps enjoys a market share of 15 per cent in the agriculture and domestic pump industry, which is estimated to be Rs 3,500 crore, according to Rajendran.

For the current financial year, the company has set a target of Rs 600 crore business and would continue to focus on agriculture and domestic pumpsets.

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