Sany India, a leading construction equipment manufacturer has lined up Rs 1000 crore over the next three years as it looks to expand its capacities to meet the rising demand.
Deepak Garg, MD, Sany Heavy Industries (India) talking to Autocar Professional on the sidelines of CII-Excon 2023 stated that as capacities at his plant have reached the maximum, they have now initiated construction of new sheds at their plant in Pune. Currently, the company has close to 60,000 square metres of area under manufacturing. Now, in order to expand, another 1,25,000 square metres are getting added. "We have a capex of Rs 1000 crore plus in the next three years time," he said.
According to Garg, Sany has been working three shifts per day to meet the demand, as opposed to the normal shift earlier on. "That has also made us more competitive," Garg added.
The development comes just weeks after Sanjay Saxena, COO of Sany India and South Asia highlighted that his company is planning to expand its current manufacturing plant quite heavily in the coming two years by putting up additional infrastructure and capacity. According to him, the aim is to increase production capacity at the plant from the current 500 units per month to around 1000 units per month, which is a 100% increase.
The current exports account for nearly 10% of the production. To meet the increasing domestic and export demand, Sany India is investing in additional infrastructure for manufacturing and export-oriented projects.
According to Saxena, the demand for construction equipment is slated to be robust in the coming five to seven years, due to the expected growth in capex (capital expenditure) of around 11–12% over the last few years until 2026–2027.