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Our Bureau

Pune , July 25

Engineering and automotive components manufacturer RSB has drawn up plans to invest an estimated Rs 100 crore in expanding its operations and upgrading technology over the next one year to tap the growing global market for auto components and aggregates.

The group is also looking at acquisitions in the US to enable it to expand and reach a turnover of Rs 1,000 crore by 2008.

RSB is in negotiations with at least three companies in the US, Korea and Europe for joint ventures in engine and transmission, auto axles and power transmission and propeller shaft business, Mr R.K. Behara, Chairman, told reporters here.

In addition, it is also in discussions with other companies for technology transfer agreements, he said.

IFC investment

The International Finance Corporation, the private sector lending arm of the World Bank, has, meanwhile, invested $7.7 million in the group to facilitate its expansion and growth. "IFC's strategy in India is to invest in medium size manufacturing companies that are modernising to become internationally competitive," Mr Iyad Malas, Director, South Asia, IFC, said.

The group is currently in the process of expanding its operations by setting up a greenfield plant for construction equipment aggregates in Chennai to cater largely to its client Caterpillar and the export markets. Also underway is a Rs 34-crore axle project for Tata Motors and other OEMs from North India, in Uttaranchal.

Mr Behara said the expanded capacities and acquisitions would also be complemented by a Rs 50-crore initiative to double existing capacities at its facilities in Pune, Jamshedpur and Dharwar.

He said the company is also expanding the strength of its R&D centre which currently has 65 engineers, in product design, development and testing and added that over 200 people would work in the centre which offers services to OEMs.

More Stories on : New Projects | Engineering | Automobile Components

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