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S&T Engineers of Coimbatore and Yeong Chin machinery (YCM) Industries of Taiwan will jointly make investments ₹24 crore in the first section to make and provide CNC vertical machining centres.
D. Shanmugasundaram, MD, S&T, instructed The Hindu the funding would be increased to ₹one hundred crore within the next three years counting on the market response.
The particulars of the three way partnership are being worked out. “We (S&T) will have advertising and marketing rights across the country for the machining centres produced,” he referred to.
The plant is likely to be commissioned right here in January. To beginning with, it will manufacture three fashions of the machine and may extend to seven models. The plant can have potential to supply one hundred machines even though the notion is to make 15 machines a year in the first part, Mr. Shanmugasundaram pointed out. Some add-ons will be imported from Taiwan and in a few years, the complete machinery might be made here. The charge of the machines should be considerably less when made in India compared to importing them from Taiwan.
a statement observed beneath the contract signed, YCM and S&T Engineers will share fiscal and technological supplies to leverage the better of each corporations.