EBC announces new venture
European Bearing Corporation, Russia's largest manufacturer of bearings, on Tuesday announced the launch of EBC Bearings (India) Limited in Hyderabad.
By PTI |
HYDERABAD: European Bearing Corporation, Russia's largest manufacturer of bearings, on Tuesday announced the launch of EBC Bearings (India) Limited in Hyderabad.
This is the first international project of EBC and the first large size bearings manufacturing project in India, a company release said here.
European Bearing Corporation is one of the world's leading bearing companies that manufactures bearings of all types and sizes ranging from 20 mm to 2200 mm. The company has three plants in Russia and one in Kazakstan.
Dr Martin Kunzmann, managing director, EBC Bearings (India) Limited said a state-of-the-art high precision bearing plant would be set up in Hyderaad to manufacture large size bearings of outer diameter between 400-700 mm to lay special emphasis on core-sector industries like Railways, steel, mining, cement, power transmission.
A unique feature would be a dedicated area for vendors to set-up their facilities under the strict supervision and compliance norms of the main plant, he said.
The project-EBC Bearings (India) Limited - is estimated to cost Rs 124 crore and production is expected to commence by the end of the first quarter of 2007.
The total bearing market in India was estimated at Rs 3500 crores in 2004-05 with annual growth rate of 8-10 per cent per annuam. EBC Bearings (India) Limited will initially manufacture import substitutes catering to heavy industries like power plants, steel plants, mining and wind mills.
The company expects to generate direct and indirect employment for about 1500 people by the end of 2010.
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