Kobelco plans expansion of facility in Andhra Pradesh
In its quest to cash in on the emerging business opportunities in the country, the Indian arm of the Japanese crane manufacturer Kobelco Cranes, Kobelco Cranes India, has signed a memorandum of understanding for expanding the existing production unit at Sri City in Andhra Pradesh. The Japanese player started commercial production of hydraulic crawler cranes in 2012 and as of now its production facility is bursting at the seams and it wants to expand its facility by adding additional space to its 10 acres existing area. The company has signed a lease agreement with the state government for an additional 10-acre plot in Sri City.
Kobelco was one of the early entrants to Sri City, and perhaps their success made Sri City a referral destination for investments, not only from Japan but also from across the world. With its expansion, Kobelco Cranes would capture a larger market share. Sri City is ideally located on AP border and close to Chennai city, now hosts 100 companies from 25 countries representing diverse portfolios such as automotive, locomotives, electronics, engineering, pharmaceuticals, warehousing, food processing, Information Technology and FMCG products makers.