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S&T Engineers of Coimbatore and Yeong Chin machinery (YCM) Industries of Taiwan will jointly invest ₹24 crore in the first phase to make and supply CNC vertical machining centres.
D. Shanmugasundaram, MD, S&T, told The Hindu the investment could be extended to ₹one hundred crore within the subsequent three years depending on the market response.
The particulars of the three way partnership are being worked out. “We (S&T) may have marketing rights across the country for the machining centres produced,” he noted.
The plant is probably going to be commissioned right here in January. To delivery with, it is going to manufacture three models of the desktop and may extend to seven models. The plant could have ability to provide 100 machines notwithstanding the inspiration is to make 15 machines a year within the first phase, Mr. Shanmugasundaram noted. Some components may be imported from Taiwan and in a few years, the complete machinery will be made here. The cost of the machines might be considerably less when made in India in comparison to importing them from Taiwan.
a press release mentioned below the contract signed, YCM and S&T Engineers will share financial and technological substances to leverage the best of both groups.