The company is interested in setting up a workshop for repairing metro rail coaches.
HMT Machine Tools Limited plans to improve its revenue by cashing in on the emerging opportunities in aerospace and defence sectors.
At a press conference here on Thursday, M.D. Sreekumar, managing director of the company, said the company expected a Rs.1,000 crore turnover in the next five years. He said HMT Machine Tools had won orders worth Rs.260 crore this year, out of which Rs.90 crore had come in from the defence sector.
Expressing interest to join hands with the Kochi metro rail project, Mr. Sreekumar said HMT is interested in setting up a workshop for repairing the coaches of metro rail.
He said the proposed workshop could be upgraded to a facility where coaches can be manufactured.
Stating that the company expected orders worth Rs.200 crore before March 31, 2013, Mr. Sreekumar said the company was making components for various weapons.
He said the weapon manufacturing assignments would be carried out mainly at its Kalamassery, Bangalore and Hyderabad units.
Mr. Sreekumar said the company was holding discussions with the Defence Research Development Organisation for developing missile components. He said HMT would hold discussions with Ministry of Defence in connection with its plan to manufacture weapons.
Earlier, Mr. Sreekumar handed over the company’s first SBCNC 80 – Slant Bed CNC Turning Centre, a machine ordered by Vikram Sarabhai Space Centre (VSSC), to P. S. Veeraraghavan, director of VSSC, Thiruvananthapuram.
An official release said HMT had bagged orders worth Rs.3.2 crore for the product from BHEL and BEML. The orders will be executed within 2 months.