LiuGong Machinery Corporation of China has opened its first overseas factory in India, making it the first Chinese machinery company to successfully open a factory outside that country. The company, which deals in the production of heavy earthmoving machines and construction equipment, opened its unit at Pithampur in Madhya Pradesh earlier this year.
Li Dongchun, President, LiuGong India Pvt. Ltd, said, "The plant will be executed in three phases that would entail a total investment of Rs 500 crore. The three phases are likely to be completed within three to four years."
"At present, the company expects to roll out 2,000 units a year, but on completing the construction of phase-II, the company will ramp up its production capacity to 3,000 units per year. After the construction of phase-III, the company could see a quantum jump in its production capacity to 25,000 units per year, an expectation that is based on the growth of the market."
LiuGong Machinery Corporation claims to be the world's No.1 company in wheel loader, having sold 30,000 machines in a year in China. |