Gainwell to invest Rs 500 cr in manufacturing mining equipment in Bengal

Gainwell Engineering on Monday said it would invest Rs 500 crore to manufacture coal mining equipment, with a license from global heavy equipment giant Caterpillar, in West Bengal.

The company said it has entered into a technology licensing agreement with Caterpillar that will allow it to manufacture equipment to support India’s growing coal production and for global markets.

Coal India will commit a capex of Rs 40,000 to 50,000 crore over the next 4 to 5 years and a large part of the investment will be devoted to the purchase of mining equipment.

As part of the agreement, Gainwell Engineering will also supply aftermarket spare parts and provide service support to the existing workforce of Caterpillar room-and-pillar equipment and licensed high-wall miners.

Gainwell Engineering sets up its factory on a 35-acre plot of land at Panagarh in the Paschim Bardhaman district of West Bengal.

“This will create employment opportunities for over 250 highly skilled technicians,” said Gainwell CMD Sunil Kumar Chaturvedi.

Denise Johnson, Group President, Resource Industries, Caterpillar, said, “We are pleased to transfer the medium and high joint Room and Pillar underground equipment, as well as the aftermarket licenses, to Gainwell Engineering. »

Gainwell will invest in a state-of-the-art manufacturing facility in India and supply the products worldwide, he said.

Gainwell Engineering will also manufacture certain models of continuous miners, surface haulers, roof racks, excavators/multi-utility vehicles and feeder breakers under the Gainwell brand under a technology license agreement with Caterpillar.

Gainwell Engineering is a manufacturing business of Gainwell Commosales Private Limited, formerly Tractors India Private Limited. PTI BSM deletes this email if it is not intended for you.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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