Engineering firm Braithwaite & Co Ltd has earmarked Rs 50 crore as capital expenditure (capex) for taking up container manufacturing in a big way, a company official said on Sunday.
The Miniratna public sector undertaking has forayed into the manufacturing segment as the country is focusing on indigenous production of containers and reducing dependence on China for such goods carriers.
The PSU under the Ministry of Railways has orders of 350 containers for global logistics major DP World and 1,000 for Container Corporation of India Ltd, the official said.
We have a big plan for container manufacturing to help traders reduce cost and dependence on imports for such goods carriers. This initiative is in line with the AatmaNirbhar Bharat. We have earmarked Rs 50 crore in this business. The investment will be made in phases, Braithwaite Chairman and Managing Director Yatish Kumar told PTI.
Braithwaite was also working with the state-run Steel Authority of India for speciality steel for manufacturing containers, he said.
We have orders of 350 containers for DP World and 1,000 for Concor, Kumar said.
He said the Kolkata-based engineering firm is taking the risk of manufacturing containers at a time when the market of steel, a raw material for such production, is volatile.
“The segment (container manufacturing) has potential for growth. We will provide containers at a competitive price to support the country’s export, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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