Indsur inks pact with Russia's GIG for supply of power infrastructure castings

Indsur Global Ltd, India’s leading manufacturers of power infrastructure castings, has tied up with reputed Global Industrial Group (GIG) of Russia, a leading power insulator manufacturer, for long term supply of castings. The initial commitment is for order valued at $ 10 million, which will be supplied in next eighteen months. The supplies would commence from April 2015 onwards. The contract was agreed upon and signed between Yaakov Denis, CEO, GIG Group and Amit Lodha, director, Indsur Group, during former’s visit to India recently. It is important to note that prior to the arrangement, GIG Group was sourcing its supplies from China.
 
S M Lodha, chairman, Indsur Group, said, “We at Indsur have always believed in raising the bar when it comes to scale, quality and cost efficiency. In doing so, we have become a supplier of choice to marquee global companies. The tie-up with GIG Group is yet another step that proves our commitment to sustained value creation for our Stakeholders as well as for the nation.”
 
He further added, “We are proud to advocate and support Prime Minister Narendra Modi’s call for ‘Make in India’ and are fully committed towards establishing India at the forefront of preferred sourcing destinations, globally. In last few years, we are proud to have successfully promoted ‘Make in India’ brand quiet aggressively in European countries and against Chinese competition. Entering Russian market is just a small step in a long journey that lies ahead of us.”
 
Yaakov Denis, CEO, GIG Group, said, “We have always believed that India has the right potential to deliver cost efficient high quality products. Our agreement with Indsur Group crystallises our belief. We look forward to scaling our sourcing in bigger way in line with our long-term growth plans and a mutually beneficial relationship for each of us.”
 
GIG is one of the leading business groups in Russia that also manages two power Insulator units, viz, JSC Yuzhnouralsky Insulators & Fittings Plant, Russia and Lviv Insulator Company Ltd, Ukraine; and are the leading manufacturers of glass and porcelain insulators, line fittings for overhead transmission line. GIG group has a major supply arrangement of power insulators in technically advanced European countries like Bulgaria, Norway, Finland, etc. Indsur is already supplying power infrastructure castings to large number of European countries including technologically advanced countries like Germany, Austria, Italy, etc.
 
S M Lodha promoted Indsur Group, which recently had set up a manufacturing facility for infrastructure castings, is a Mumbai-based global business house with diverse manufacturing facilities spread over in four geographies in important product segments that include steel castings, forgings, auto components, thermal engineering, pipes, steel and steel related products. The group is also setting up a large casting facility in Saudi Arabia with a capacity of 50000 MT annually and is a major investment of an Indian firm in Saudi Arabia.