Borri, the European giant in power equipment, and Kerala based Unitek Power Solutions (I) Ltd, are jointly setting up a rs 30 crore modern manufacturing plant at Pazhanganad in Kerala’s Ernakulam district to cater to Indian and overseas markets.
The foundation stone of the factory will be laid on Saturday by Union minister for Parliamentary Affairs and Overseas Indian Affairs, Vayalar Ravi. State Local Administration minister, Paloli MohammedKutty will preside over the function.
This is the first plant in India, Borri is partnering within the country.The new unit is expected to be completed in a year’s time,he said.
Fausto Beoni, Managing Director, Borri, said India was ‘interesting country with a huge potential. Indian market will grow very fast’.
Their products are used in various industrial establishments, marine applications, textile units,
hospitals, oil field and recession will not be a concern, he said.
There were also plans to recruit Indan engineers who would be trained in Italy, he said adding 80 persons have already been recruited. More people would be taken in phases.
The new unit is expected to be completed in a year’s time Unitek Managing Director John Zachariash said.