| This investment will be used for capacity additions in various projects and plants in the West Asia and China, said A M Naik, the Chairman and Managing Director of the company. |
| He was addressing the shareholders of the company at the annual general meeting (AGM) held in Mumbai today. |
| Naik said the company has set a target of 25 per cent growth, riding on the boom in the economy. |
| "Large investments in hydrocarbon, power and infrastructure sectors in the West Asia will generate good contracting opportunities. To address the needs of a rapidly expanding Gulf Cooperation Council (GCC) market, the company is in the process of setting up a modular fabrication facility in Oman and has entered into a joint venture in Saudi Arabia for manufacture and marketing of switchboards and other related electrical products/solutions," said Naik. |
| Besides supplying technology intensive coal gasifier and process plant equipment to China, the company's strategy encompasses sourcing of materials and setting up of a wholly-owned subsidiary to manufacture high-end air circuit breakers. |
| The company is also actively engaged in setting up of new manufacturing facilities in China for selected machinery and industrial products. Meanwhile, the company is in talks with a consortia operating Mumbai and Delhi airports for sub contracts. |
| "We are in talks with GVK-led consortium operating Mumbai Airport and GMR-led consortium for Delhi airport. We are targeting sub contract works for construction of runways, terminal buildings, attachment roads and other related construction acitivities at the airports," said Naik. |
| Towards shipbuilding, the company has identified three to four sites and one deep water facility will be finalised soon, Naik said. |
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