British construction equipment maker JC Bamford Excavators (JCB) on Friday unveiled its largest manufacturing facility in the country at Jaipur. The company which opened two factories, said it was embarking on another phase of growth plans in India, keeping in mind the long-term growth potential of the market.
The two new plants having an area of around 115 acres of land was inaugurated by Rajasthan Chief Minister Vasundhara Raje and JCB Group Chairman lord Bramford on Friday in the presence of DIPP Secretary Amitabh Kant and other leading industrialists like Adi Godrej.
JCB also expressed hope that the Indian construction equipment market will recover by early next fiscal after facing months of slump.Bullish on the long-term growth aspects of India, lord Bamford said, "we even kept investing in India during the slowdown and we will continue to keep investing here."
JCB has till date invested 250 million pounds (over Rs 2,420 crore) in India, including Rs500 crore on the new plants at Jaipur.Commenting on the new factories, JCB Group CEO Graeme Macdonald said the inauguration of two factories in Jaipur is the beginning of another phase in JCB's growth plans in India.
"It is only a matter of time before the current short- term concerns give way to the long-term growth. Out of all the emerging markets, India is most promising and we foresee significant progress in the infrastructure in the time to come which will give JCB India added growth," he added.Talking about the capacity of the two Jaipur plants, JCB India Managing Director and CEO Vipin Sondhi said, "we don't have problem of capacity and whatever the demand we will be able to cater to that efficiently and comprehensively."
JCB has already started producing components at one of the two factories and production of telescopic handlers and skid steer loaders would begin next year.Besides Jaipur, JCB has three operational manufacturing facilities in India - one at Ballabgarh in Haryana and two at Pune in Maharashtra.