Kobelco Cranes signs MoU for expansion in Sri City.

Kobelco Cranes India, the Indian arm of the Japanese crane manufacturer Kobelco Cranes signed a memorandum of understanding for expanding the existing production unit at Sri City.

The Japanese company started commercial production of hydraulic crawler crane during February 2012 in a plot of 10 acres. With the current production facility is bursting at the seams, Kobelco wants to expand its facility by acquiring additional space. Kobelco's facility expansion will create job opportunities for more than 100 people.

Yutaka Goto, President, Kobelco Cranes India and Ravindra Sannareddy, MD, Sri City signed a lease agreement for an additional 10 acre-plot in Sri City, in the presence of N. Chandrababu Naidu, Chief Minister of Andhra Pradesh, who is on a visit to Japan along with a delegation.

Ravindra Sannareddy in a statement said, 'Kobelco was one of the early entrants to Sri City, and perhaps their success made Sri City a referral destination for investments, not only from Japan, even from others across the world. With its expansion, Kobelco Cranes would capture a larger market share.'

Sri City, located in AP border and close to Chennai city, now hosts 100 companies from 25 countries representing diverse portfolios such as automotive, locomotives, electronics, engineering, pharmaceuticals, warehousing, food processing, Information Technology and FMCG.


HBL