Gainwell to invest Rs 50cr in setting up asphalt, concrete plants

City-based Gainwell Engineering has partnered with Lintec Linnhoff Holdings LLH, a German leader, to set up asphalt and concrete batching plants in India to meet the growing demand as the government goes for major infrastructure building in the coming years.The dedicated manufacturing project expects an investment of USD 5-6 million or about Rs 50 crore in phases, the company said.We expect the asphalt batch mix plant market to grow at a rate of 25-30 per cent.

City-based Gainwell Engineering has partnered with Lintec & Linnhoff Holdings (LLH), a German leader, to set up asphalt and concrete batching plants in India to meet the growing demand as the government goes for major infrastructure building in the coming years.

The dedicated manufacturing project expects an investment of USD 5-6 million or about Rs 50 crore in phases, the company said.

''We expect the asphalt batch mix plant market to grow at a rate of 25-30 per cent. Presently, it is Rs 500 crore market for new plants per year,'' Gainwell CMD Sunil Chaturvedi said.

Gainwell’s manufacturing arm, Gainwell Engineering, will be heading the licensed manufacturing of Linnhoff asphalt and concrete plants besides distribution and servicing them in India, Nepal and Bhutan. This will be backed up with end-to-end customer and technical support, including after-sales support, retrofit and refurbishment of plants, and supply of spare parts.

Asphalt is a petrochemical product used as the top layer for road construction for durability and quality construction.

Chaturvedi said, ''India has a huge potential in terms of infrastructure growth. The Government of India is strongly focused on infrastructure development to boost economic growth and is aiming for 100 smart cities. In particular, special emphasis is being placed on the expansion and modernisation of India’s National Highways has long been a priority of the government.'' PTI BSM NN NN

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