Kyocera CTC Precision Tools Pvt Limited (KCPT) is planning to increase its capacity three fold with an estimated investment of Rs 250-300 crore in next three years.
KCPT is a joint venture between Japan's Kyocera Corporation (KC) and Jamshedpur-based CTC (India) Private Limited (CTC).
Addressing a joint press conference here yesterday, Goro Yamaguchi, Gobal Chairman of Kyocera Corporation, and Joint Managing Director of CTC, Ramesh K Agarwalla said the goal of the joint venture is to become number one cutting tool company in India for which it will expand its capacity.
"We are targeting to achieve a growth of 25 per cent in the current fiscal," Agarwalla said, adding that currently, KCPT has been producing 6,00,000 pieces per month and it plans to enhance the capacity to 18,00,000 pieces in the next three years.
He said KCPT, will have to procure equipment to enhance its capacity.
Agarwalla said that KCPT has been exporting 20 per cent of its products in the overseas markets in Asian Region.
"We will export 50 per cent of our products following the enhancement of capacity," he added.
He said KCPT was a manufacturer of over 2,000 items of world-class quality of very high precision tools such as carbide and ceramic inserts, which are used in automobile, engineering, defense, aerospace industry and the railways, and anywhere where metal cutting is required.
Agarwalla also said that KCPT integrated Kyoceras sales operations in India and the sales have been increased by almost 50 per cent since then.
KCPT, which already has started a technical center, will open a research and development centre at its Jamshedpur plant to carry out product testing, technical training of engineers from the different companies, channel partners and customers, he added.
Regretting lack of inadequate infrastructure including good roads and air connectivity, he said Jharkhand has enough potential for growth but infrastructure needed to be improved to attract investment.
Inder Agarwal, the president of Adityapur Small Industries Association (ASIA), who was present along with Jharkhand unit secretary of Confederation of All India Traders (CAIT), said due to lack of good roads and air-connectivity, the investment as expected from the Global Investors meet Momentum Jharkhand could not be made in and around Jamshedpur, the industrial hub of Jharkhand.
Disclaimer: No Business Standard Journalist was involved in creation of this content
