Uniparts India Limited, manufacturer of agricultural and construction equipment, on Monday started its Vizag operations.
The facility is located on 30 acres in the AP Special Economic Zone, Atchutapuram.
“We have invested Rs 78 crore to set up this unit and expect a Rs 220crore turnover in the first year of operations,” Herbert Coenen, chief executive officer, Uniparts India Limited, said. Over the next 3-4 years, the company will spend another Rs 70-80 crore in Vizag and expects the turnover to touch to Rs 500 a year at that time.
It would export all the products manufactured at the facility, he said.
Uniparts currently has nine manufacturing facilities across the globe, of which six are in India. The present turnover of the group is around Rs 650 crore. The facility was inaugurated by MV Subba Reddy, development commissioner, Vizag Special Economic Zone.