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Gainwell Engineering to build Rs 500-crore mining equipment plant

The company has entered into a technology licensing agreement for building such equipment with global firm Caterpillar. It will manufacture select models of equipment including continuous miners, face haulers, roof support carriers, and highwall miner under the Gainwell brand with technology licensing agreement with Caterpillar.

Gainwell Engineering to build Rs 500-crore mining equipment plant
As a part of this agreement, Gainwell Engineering will also supply after-market spare parts and render service support to the existing active population of licensed Caterpillar room and pillar equipment and highwall miner. (Representational image)

Gainwell Engineering on Monday that it will invest around Rs 500 crore to build its underground mining equipment manufacturing plant in Panagarh, West Bengal.

The company has entered into a technology licensing agreement for building such equipment with global firm Caterpillar. It will manufacture select models of equipment including continuous miners, face haulers, roof support carriers, and highwall miner under the Gainwell brand with technology licensing agreement with Caterpillar.

The company will also offer products and services related to railways and defence sector. As a part of this agreement, Gainwell Engineering will also supply after-market spare parts and render service support to the existing active population of licensed Caterpillar room and pillar equipment and highwall miner.

“With the acquisition of the IP license from Caterpillar, our main priority at this stage will be to ensure that our customers experience a seamless transition as we continue to deliver the range of innovative products and exceptional support they have come to expect from Caterpillar,” Sunil Kumar Chaturvedi, chairman and managing director, Gainwell Engineering, said.
The company’s manufacturing business headquarters is based in Kolkata while the global business is managed through Gainwell Engineering Global Pte Ltd, Singapore.

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