For the next half decade, country’s infrastructure will witness the fastest growth, and the company till date has already invested Rs.2,500 crore, said president and managing director, Volvo, Kamal Bali. The company is shifting its focus from selling trucks to coal mining and construction in long haulage and irrigation sectors. In the truck business, it mainly remained focused on coal mining and most of its trucks have been sold and more than one third part of coal mines products are being moved by Volvo trucks. Unveiling the company’s future plans, he revealed that company is expanding to other segments such as construction, irrigation and long haulage as the country requires investment worth $777.73 billion in infrastructure by 2022. In the road sector, investments through public-private-partnership are expected to be in the region of $31 billion during the next five years. Highway projects, which are one out of three major national highway projects, use Volvo equipment and as such it is now focusing on the excavation and road equipment side segment. Construction equipment is growing at the fastest pace for the last three years and will continue to grow at the fastest pace among all businesses for the reason that the penetration level of construction equipment in India among the lowest and this means existing stock of machines in the whole country is very low. The need to build infrastructure is very high, which means demand will be higher and there are no existing stocks in the near future, he claimed.
📅Published on:
09 February 2018
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