AJAX Engineering Develops New Manufacturing Facility
Construction equipment manufacturer AJAX engineering is likely to get orders from government infrastructure projects post lockdown and from the real estate developers in the residential segment who are in a hurry to complete the projects after facing delays due to lockdown.
The company has acquired a 20-acre land parcel in Bengaluru angalore and will invest Rs 100 crore to develop a new manufacturing facility as it aims to expand operations in anticipation of greater demand for its equipment post lockdown. The concrete equipment player has manufacturing facilities at Doddaballapur and Gowribidanur in the city outskirts.
“We have acquired 20 acres from Karnataka Industrial Areas Development Board (KIADB) at Rs 34 crore and will invest another Rs 60-70 crore to develop the facility. The demand from the commercial real estate sector has slowed as companies have focused towards work from home,” said Jagadish Bhat, Managing Director & CEO of AJAX Engineering.