Kolkata, Apr 28 (PTI) Capital goods maker Gainwell Engineering on Thursday said it will set up a mining equipment manufacturing factory in West Bengal, which will cater to domestic demand as well as exports.
The plant will come up in Panagarh, and entail an investment of around Rs 500 crore in the first phase.
Initially, it will focus on underground mining equipment like continuous miners, roof-support carriers or high-wall miners, which will also be exported across global markets, company officials said.
“We already have an order book of about Rs 450 crore, of which half are exports. Construction of the factory has also started on 35 acres of land in Panagarh, and commercial production in expected in the first quarter of the 2023 calendar year," Gainwell Engineering Chairman and Managing Director Sunil Kumar Chaturvedi said.
In the first phase, 300-350 engineers will be directly employed in the factory, which will be fully automated.
The company also announced a partnership with the World Coal Association to promote sustainable mining in India.
Speaking at the event, World Coal Association CEO Michelle Manook said, “Coal has future in the current energy scenario where reliability in renewable is yet to be 100 per cent. The current confluence of global energy events tells us that we have arrived at a new juncture, and we must re-balance issues of supply security, reliability and affordability – the so-called 'energy trilemma'."
"It is critical that countries like India and companies like Gainwell Engineering are leading the discussion on coal's sustainable journey," she added. PTI BSM