Kobelco Cranes signs MoU for expansion in Sri City

Hyderabad: Kobelco Cranes India, the Indian arm of the Japanese crane manufacturer Kobelco Cranes signed a Memorandum of Understanding on Friday for expanding the existing production unit at Sri City.

As the current production facility, which started commercial production of hydraulic crawler crane during Feb 2012 in a plot of 10 acres, 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 August presence of Andhra Pradesh Chief Minister N Chandrababu Naidu, who is on a visit to Japan along with a delegation. Speaking on the occasion, Ravindra Sannareddy said, “I am glad to state that 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, I am confident that Kobelco Cranes will capture a larger market share.” Sri City has become a unique gateway for investments in diverse sectors. Its location advantage opens a floodgate of business opportunities between Sri City and the rest of the world.

As of now, 100 companies from 25 countries have invested in Sri City, representing diverse portfolios such as automotive, locomotives, electronics, engineering, pharmaceuticals, warehousing, food processing, Information Technology and FMCG, he opined. (INN)