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| Exchange Disseminated Time | TIL Ltd has informed BSE regarding a Press Release dated November 18, 2011 titled "TIL sets a new pace in the infrastructure space of Bengal"
Press Release:
"Hon'ble minister of Commerce and Industry-Govt of West Bengal -Shri Partha Chatterjee today laid the foundation stone at Vidyasagar Industrial Park in Kharagpur-West Bengal for the upcoming Crane and Reachstacker Factory of TIL and also inaugurated the UniM of its Port and Construction Equipment facility at Changual in Kharagpur -West Bengal in presence of Mr. Avijit Mazumdar-Chairman TIL Limited, Mr. Sumit Mazumder, Vice Chairman & Managing Director TIL Limited along with the technology partners of TIL and other distinguished dignitaries.
Speaking on the occasion, Mr. Sumit Mazumder, Vice Chairman & Managing Director TIL Ltd said, "TIL has been partnering India's infrastructure build since 1944 with a wide range of construction, mining, power systems, material handling, port and road building equipment with latest technologies and world-class brand alliances along with a wide array of value added services." He further added that -"TIL is one of the few companies that has always remained committed to the state of Bengal. When most industries had shifted base, TIL's conviction in the state never wavered. Today TIL is over Rs 1400 crores company with a vision to grow manifold with the new facilities coming up which will meet the growing demand of equipment for infrastructure building. We envisage the new facility to increase our turnover by Rs1000 crores in the next 2-3 years. Our total investment envisaged for the entire project is to the tune of Rs 600 crores [till completion of all four phases]. In terms of employment potential, it can be appx. 2000 for direct employment and indirect as appx. 5000 in a span of four phases of the project," added Mr. Mazumder.
The proposed plant in Vidyasagar will make Reachstacker and Forklift Trucks in association with Hyster- USA and manufacture Cranes in collaboration with Manitowoc- USA which will be in addition to the existing plant in Kamarhatty, Kolkata. In Vidyasagar, TIL will also have state -of-the- art Training Facility and Equipment Refurbishing Facility.
At Changual the Unit -1 of port and construction equipment facility, TIL will roll out Crushing & Screening products for aggregate and mining applications under license from Astec Aggregate and Mining Group, a part of Astec Inc.-US. Also made under license will be the Double Barrel Hot Mix Asphalt Plant again in partnership with Astec INC. The plant will also make Rubber Tyred Gantry Cranes in technology partnership with Paceco Corp [a part of MES- Mitsui Engineering and ship Building-Japan]. The state of the art facility in Changual has been designed using concepts of Demand Flow Technology & Lean Principles."
Out of the 270 acres of land appx 165 acres is in Changual and 104 acres is in Vidyasagar Industrial Park. The project is proposed to be completed in four phases between 2011 and end 2015.
After Phase 1 roll out the proposed plans for the next phases are:
- Ph 1 - Inauguration today for Port and Construction Equipment Facility
- Ph 2 -Crane Factory. Partner :Grove/ Manitowoc. Completion 2013
- Ph 3 -Reach Stacker Factory. Partner: Hyster [a part of NMHG group] . 2014
- Ph 4 -Expansion of Factory at Changual and Port Equipment facility at Changual - Partner MES [Mitsui Engineering & Shipbuilding-Japan]. 2015 end
• Total investment envisaged - Rs. 600 crores [till completion of all four phases]
TIL will also offer substantial benefits, such as -providing training -both theoretical and "on the job' to employable youth with basic education from the families of the land sellers and villagers in that area to enhance em payability. Subject to suitability they would be given priority for all job opportunities that would arise once the factories are ready. For unskilled work, employment priority will be given to the land sellers and villagers. The company will also extend financial and technical assistance to interested and capable members of these families to set up ancillaries for supply to the company's factories.
As a part of its CSR focus TIL will offer substantial benefits to the land sellers and the villagers which include help in medical facility through Health Check up camps, improving educational facility by extending the existing school facilities. Also the company will remain associated with MKDA, Zilla Parishad for development of Roads, Drainage systems etc. for Changual village." |
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