Europe-based bearings maker URB Group is planning to invest $65 million to set up a 1,000-tonne per year manufacturing facility in Rajasthan. The facility is expected to go operational by the end of 2013.
In a statement here, URB India President Harun Adiguzel said the Indian market held huge potential. The company was keen to establish its presence in the country by assembling its own unit. The company is present in India since 1982. The facility will come up on a 25-acre plot.. “The initial production capacity of the plant will be 1,000 tonnes of bearings every year that will be doubled in future. The plant is expected to start operations by the end of 2013,” he said.
He said 70-75 per cent raw material would be sourced locally. The rest would be imported from Romania.. “Initially, 70 per cent of the production will be for the domestic market. Later, domestic consumption and exports will contribute equally. We plan to export the products to Europe and the U.S. We are looking at a turnover of $200 million with our India URB factory in the next five years,” he added.
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The Indian facility will be its fourth factory in the world after those in Romania, Turkey and Hungary. Mr. Adiguzel said with local production starting, authentic URB bearings would be available at much lower prices directly to manufacturing companies in automobile, steel, mining, power, oil and railways along with our dealers in India.