European Bearing Corporation, a high-profile Russian manufacturer of bearings, will be setting up a manufacturing plant with an investment of $30 million in Hyderabad through its newly incorporated Indian subsidiary "� EBC Bearings (India) Limited. | |
| Announcing this here today, Martin Kunzmann, managing director of EBC Bearings (India) Limited, said the Hyderabad plant would initially produce large-sized bearings with outer diameter between 400mm and 700 mm primarily aimed at heavy machinery. |
| |
| The plant, which would employ 1,000 people, is scheduled to start operations by the end of the first quarter of next financial year, he added. |
| |
| The company's announcement marks the entry of the first private Russian investment into India, according to Vladislav Antonio, Russian consulate general for South India. |
| |
| According to Kunzmann, the company's annual sales turnover in India is expected to touch the $30-million mark from the present $3 million resulting in a market share of about 15 per cent once it starts manufacturing the bearings from Hyderabad. |
| |
| The company zeroed in on Hyderabad for its manufacturing operations due to its logistical advantages beside other factors, he said. The plant will be coming up in a 50-acre land at the IDA (industrial development area), Mallapur, on the city outskirts. |
| |
| In India, the company would focus on heavy machinery, railways, automobiles, mining and steel industry for its business development. |
| |
| "Our products are priced at 10-15 per cent below the competition in the premium segment. This would also help us grow here," Kunzmann said. |
| |
|
| |
