National Engineering Industries (NEI), a C.K. Birla Group company manufacturing the well-known NBC bearings, proposes to invest Rs.20 crore to create a world-class R&D Centre at its Jaipur factory premises.
The upgradation of the R&D centre is part of Rs.400-crore investment the company is planning to make in the next two years on its three premises in Jaipur and Niwai in Rajasthan and at Manesar in Haryana.
NEI president and CEO Rohit Saboo said the R&D centre would conduct research on steel and other aspects of bearing technology such as tribology. NEI at present produces seven million ball bearings a year and is the second largest manufacturer of the commodity in the country with a 25 per cent market share. The R&D centre would be ready by January next year, Mr. Saboo said.
NEI is also the recipient of the prestigious Deming Application Award, an award of recognition in Total Quality Management from the Union of Japanese Scientists for the year 2010. “The award has come as a big motivation for further improving the quality,” Mr. Saboo said. Apart from investing on quality improvement, the company would also spend Rs.5-10 crore on security in the coming year, he added. Mr. Saboo said the company is targeting a business of over of Rs.1,500 crore by 2014-15.