Thyssenkrupp India Aims To Double Revenue To Rs 4,000 Crore In Five Years
The Thyssenkrupp logo sits on a banner outside the Thyssenkrupp Rasselstein GmbH steel packaging factory in Andernach, Germany. (Photographer: Krisztian Bocsi/Bloomberg)

Thyssenkrupp India Aims To Double Revenue To Rs 4,000 Crore In Five Years

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Thyssenkrupp Industries India Pvt. Ltd. is aiming to double revenue to Rs 4,000 crore over the next five years due to rising demand for capital goods equipment across mining and cement segments, a senior company official said Thursday.

The German company has made India a global centre of competence for energy, mineral processing, material handling equipment and sugar industries, said Vivek Bhatia, managing director and chief executive officer at Thyssenkrupp India.

"Backed by our strong technology and innovation capabilities in India, we are eyeing to double our revenue to Rs 4,000 crore in the next five years," he said.

According to Bhatia, Thyssenkrupp India is betting big on the growth of capital goods equipment in the country to cater to the rising need of the infrastructure sector. “We are also leveraging our Internet of Things solutions and other new technologies to develop next-generation equipment in India. We also aim to extend our technology expertise for chemical projects such as in the segments of fertilizers and coke plants."

The company is currently witnessing the growth in mining and aggregates business at a compounded annual growth rate of nearly 30 percent and expects the momentum to continue mainly due to strong technology capabilities and strategic alliances.

"In the mining segment, we aim to replicate the success of continuous mining projects executed in China and Southeast Asia.

“We also plan to introduce blast free and continuous mining technology, which can help Indian coal mines to improve their mining productivity by 30 percent as well as exploit stranded coal seams.

This is also an efficient and sustainable process as it is completely electricity-driven.”

In the aggregate segment, Thyssenkrupp India recently entered into a distribution deal with Gainwell to strengthen our footprint in the north, east and north-east regions of the country.

"This exclusive partnership will allow us to distribute our entire range of crushing equipment and plants along with comprehensive services to customers in these regions," Bhatia said.

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