ThyssenKrupp aims to double revenue to Rs 4,000-crore in next 5 years

Riding high on rising demand for capital goods equipment across mining and cement segments, Thyssenkrupp Industries India is eyeing Rs 4,000 crore revenue over the next five years, a senior company official said.

The company, which has a presence in India since over last five decades has made the country a global center of competence for energy, mineral processing, material handling equipment, and sugar industries, Thyssenkrupp Industries India managing director and CEO Vivek Bhatia told PTI.

"Backed by our strong technology and innovation capabilities in India, we are eyeing to double our revenues to Rs 4,000 crore in the next five years," he said.

Bhatia said the company was betting big on the growth of capital goods equipment in the country to cater to the rising need for mining, cement, sugar and power sector in the domestic market.

"We are also leveraging our IoT (Internet of Things) solutions and other new technologies to develop next- generation equipment in India. We also aim to extend our technology expertise for chemical projects such as in the segments of fertilizers and coke plants," he added.

The company is currently witnessing the growth in mining and aggregates business at a compounded annual growth rate (CAGR) of nearly 30 per cent and expects the momentum to continue mainly due to strong technology capabilities and strategic alliances.

"In the mining segment, we aim to replicate the success of continuous mining projects executed in China and Southeast Asia. We also plan to introduce blast free and continuous mining technology, which can help Indian coal mines to improve their mining productivity by 30 per cent as well as exploit stranded coal seams. This is also an efficient and sustainable process as it is completely electricity-driven," Bhatia added.

In the aggregate segment, the company recently entered into a distribution agreement with Gainwell to strengthen our footprint in the north, east and north-east regions of India.

"This exclusive partnership will allow us to distribute our entire range of crushing equipment and plants along with comprehensive services to customers in these regions," Bhatia added.