Financial Daily from THE HINDU group of publications
Sunday, Oct 23, 2005
Financial Daily from THE HINDU group of publications Sunday, Oct 23, 2005 |
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Corporate
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New Projects Italian firm Fagioli plans manufacturing base at Kandla EPZ Our Bureau
Mumbai , Oct. 22 THE Italian Fagioli group, which specialises in heavy lifting equipment for civil, offshore, power and petrochemical industries, has decided to set up a $3-million manufacturing base in the Kandla Export Promotion Zone (EPZ). The company, which manufactures alternative lifting equipment, sees significant demand growth in this sector. "The demand for alternative lifting equipment is growing in India; currently the market size is pegged at about Rs 40 crore," said Mr Les J. Brown, Managing Director of Fagioli PSC Ltd, UK. Currently, about 80 per cent of the equipment erection works is carried out by cranes, and the rest through alternative lifting equipment. Fagioli is considered to be one of the world leaders in alternative lifting equipment such as strand jacks and tower lift system, archaic cranes, derricks, and winches. "Corporates are increasingly shifting from conventional methods of lifting to alternative lifting systems, as these are faster, safer, economical, and easy to operate," Mr Brown said.
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