Schwing Stetter inaugurates Raipur branch
Schwing Stetter India has inaugurated its upgraded branch in Raipur. The new branch was inaugurated by Anand Sundaresan, managing director, Schwing Stetter India, and VG Sakthikumar, COO, SCHWING Stetter India. With the commencement of this upgraded branch, Schwing Stetter aims to target the booming construction market and active customer base in Raipur.
The Chhattisgarh government has collected revenue of Rs800 crore from stamp duty and registration fee on land transactions, due to which the size of the real estate industry has grown to over Rs11,000 crore in Chhattisgarh in the current fiscal year, thus leading to a construction boom.
According to the latest Morgan Stanley research report, smaller cities are scoring over metros in terms of growing urbanisation, and cities such as Jalandhar, Aurangabad, Bhubaneswar, Agra and Raipur are believed to be the next ‘Cities of Opportunities’.
The report measures the key drivers of urbanisation such as physical infrastructure, financial penetration, consumer services and job listings in the top 200 cities (by population) in India. The vibrancy index is aimed at helping investors evaluate companies’ strategic positioning in urban centers and monitor sector trends.
“Construction equipment (CE) industry has the potential to grow at 19-22 % cumulative annual growth rate to reach $20-25 billion by 2020,said industry body CII in a report. With infrastructure demand to quadruple in 15 years, players are hopping in to catch up with the massive demand in roads, sport complexes, stadiums, dams, power projects, ports infrastructure developments, etc.
Speaking on this occasion, Sundaresan said, "Schwing Stetter is getting ready to tap the $1-trillion funds, the government has earmarked for infrastructure development under the 12th Five-Year plan starting 2012.” He added, “We are also looking at setting up a manufacturing plant in Raipur for which we are scouting for land.” Sakthikumar added, “Schwing Stetter has recently opened branches in Goa, Patna and Jamshedpur and now an upgraded branch in Raipur. He added, “Today the construction equipment industry is expected to do much better than last year in terms of domestic sales and exports. Steady prices of raw materials, new launches, increase in competition and a healthy economy will also contribute towards the growth of the manufacturing industry in India.”