EBC Bearings to set up $30mn plant in Hyd

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.