AIA Engineering to expand wear parts capacity

The Ahmedabad-based AIA Engineering Ltd is gearing up for expansion of wear parts with brownfield and greenfield projects. The company specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.
 
AIA Engineering has informed BSE that the company's is augmenting its manufacturing capacity of wear parts from 2,00,000 Mt to 260,000 Mt by brownfield project which is expected to be commissioned in February, 2014.
 
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Further, in addition thereto, the Board of Directors have approved a greenfield project to further enhance this manufacturing capacity by setting up a new facility to produce wear parts with rated capacity of 1,80,000 Mt. The first phase of this project of 1,00,000 Mt is estimated to get commissioned by March, 2015 with the balance estimated to complete by October, 2015.
 
Further the company has informed that, the land for the above project has already been acquired, necessary environmental clearances have been obtained and the capex shall be funded through internal accruals and some external borrowing, if required.