Spirax Sarco to invest Rs.110 cr in new plant
Will make industrial, commercial steam systems
CHENNAI, APRIL 8: The UK-based Spirax Sarco will invest ₹110 crore in a new plant in the Mahindra World City here to manufacture efficient industrial and commercial steam systems that are used in food and beverage, brewery and pharmaceutical sectors. Construction of the plant, its 10th unit globally, has commenced, and production is expected to start in January 2016 with around 60 employees, V. Govindarajan, Managing Director, Spirax Sarco India Pvt Ltd, told newspersons.
Spirax Sarco came to India 55 years ago and had a joint venture with Forbes Marshall Pvt Ltd, but exited last month to have its own operations here. The joint venture company was doing business worth ₹250 crore, which was around 60 per cent of the market share, he said.
Nearly 80 per cent of the products to be manufactured in the plant will be for local market, and the rest for exports. The size of the local market for steam products is pegged around ₹700 crore, he said.
The company’s product help customers to improve operational efficiency, productivity, reduce energy and water use. It also offers steam system audits conducted by its technical and service engineers to identify steam system inefficiencies and opportunities to improve steam system, he said.
Source: The Hindu Business Line