CHENNAI: The Indian arm of Denmark-based pump manufacturer Grundfos is keen to expand its presence in Bangladesh and northeast regions in the next couple of years. “We are focussing on investment opportunities in Bangladesh,” said Ranganath N K, managing director, Grundfos India, adding that this plan would be its shortcut to foray into the bigger market in northeast.
Ruling out plans to set up production units in other states other than Tamil Nadu and Gujarat, he said, “We already possess 15 acres of land near Chennai and may soon establish our second unit in Tamil Nadu.” Currently, the firm has two production units, in Chennai and Ahmedabad, which make intelligent and energy-efficient pumps for domestic, commercial and industrial use.
Over the next three years, the Indian subsidiary of the company plans to invest about `125 crore, of which `20 crore has been set aside as capex for FY19, towards a preliminary study for the new plant, set up a core team and new products that focus on sustainability.
“We are looking if we could embed sustainability into our business. We are still discussing. India and Africa are the areas we would like to experiment with because we feel that impact would be the highest (there),” he added. While Chennai plant caters to the south, the Gujarat plant caters to business in the north and the west. Besides, components worth `30- 40 crore are exported to African nations from Gujarat.