To cater to export markets, CRI Pumps has opened a manufacturing unit in Special Economic Zone (SEZ) at Perundurai in Erode district.
The unit, set-up at an initial investment of Rs 30 crore, will make stainless steel submersible pumps, motors, Vertical Multistage Pumps, Pressure Boosting Systems and Industrial Pumps, G Soundararajan, Vice-Chairman, CRI Pumps said in a press release today.
Pumpsets produced in this unit will cater to sectors like industry, residential, irrigation, water supply, mining, oil & gas, buildings, waste water and civil projects, he said.
With an annual capacity to produce over 1 lakh pumpsets, the unit will cater to export markets and target a turnover of Rs 200 crore in the first year, with supply to various countries and CRIs foreign subsidiary companies, he said.
As part of expansion plans, the company would invest Rs 30-40 crore in this eco-friendly green unit, in the second phase, Soundarajan said.
He said unit would continue to utilize the CRI Groups R and D Division - Fludyn Advanced Technology Centre recognized by the Ministry of Science & Technology, for state-of-the-art prototyping and testing facilities.
The project would also help CRI release considerable capacities in the existing units to help meet growing domestic demand, he said.
