According to the Managing Director, Puzzolana, Mr. Prakash Pai, in the newly formed SPV, Puzzolana holds 80% stake and the rest is with the Italian firm. As per preliminary estimates the facility is expected to manufacture 1,200 units of equipment of various categories per annum.
He further added that in setting up the SPV we are going to exploit the strengths of the two companies to explore business avenues both with in India and abroad. As per McKinsey estimates the current construction equipment market in India is about $3 billion and it is likely to grow to $12 to $13 billion in the next half decade. While Mr.Guidetti, President of Guidetti in the Italy, commented that his company will make available the latest technology and will work with Puzzolana in manufacturing graders, compactors and pavers. The aim of the SPV to make more fuel efficient hydrostatic equipment in India for the Globe.