ITT Corporation, a New York Stock Exchange listed $10.9 billion diversified company, is all set to invest another $10 million to expand its Vadodara facility to manufacture large metal volute pumps for the power and irrigation sectors.
The company, that completed one year of operations in February this year, aims to increase its order book to $50 million from a $42 million last fiscal. "ITT India has already invested $10 million in our Vadodara plant that manufactures pumps for the oil & gas sector, besides vertical turbine pumps," said Sam Yamdagni, Managing Director, ITT India.
Talking about the market for large metal volute pumps, Yamdagni said, "No one manufactures these pumps in India now. Hence, there is huge demand for large metal volute pumps. As of now, people either import or use concrete volute pumps that enhance the cost of production."
Also, according to Gretchen McClain, President, ITT Fluid and Motion Control, "India's growing economy, burgeoning middle class, expanding infrastructure and a vast agricultural hinterland are contributing to its water challenges. In fact India is the largest user of groundwater in the world, with an estimated use of 230 cubic kilometers of groundwater every year – more than a quarter of the global total. Advanced technology is needed now to provide clean water to Indian cities, to irrigate crops, to treat its waste water and to protect the environment."
ITT has more than 100 years experience in the water industry, and identified water as a primary growth platform ten years ago. Today it offers the broadest suite of capabilities, products and technologies in the water space.
In recent months, ITT has received more than USD one million in orders for waste water treatment systems in India. It was also been awarded a USD 22 million contract to supply high-end water pumps for two irrigation systems to the “rice bowl” region (Andhra Pradesh) irrigation project, the largest in India.
These two systems are slated to irrigate more than 250,000 acres of farmland.
As a global leader in products, solutions and services for the movement and treatment of water, ITT is committed to provide safe water and sanitation to children and families in need.
ITT’s signature philanthropy program ‘Watermark’ supports a total of 75 school projects in West Bengal and provides safe drinking water to 82,000 students.
These projects are implemented by Water for People – India and local NGO sponsors in the districts of Nadia, North 24 Parganas, South 24 Parganas and Medinipur.
