IGC plans expansion
By Sarah McCay26 October 2014
India Globalization Capital (IGC) announced plans to expanding its heavy equipment rental business from Kerala, India, to neighbouring state of Karnataka.
The rental company specialises in heavy equipment such as bulldozers, pneumatic rollers, trailers, generators, and Bobcat equipment, offering equipment and trained operators to the construction and agricultural industry in India.
IGC said it was expanding its model geographically in anticipation of higher overall growth in infrastructure build out under the recent newly elected government.
Ram Mukunda, IGC'S CEO, said, "We currently operate in Kerala, which lies along the Arabian Sea coast and is affected by the monsoons that virtually shuts down our operations in this region for three to four months a year.
"The neighbouring state of Karnataka, on the other hand, enjoys 12 months of favourable weather. The recently announced acquisition of land from the settlement with Sricon allows us to obtain bank lines to support the expansion. Once we are established in Karnataka, we expect to expand the model to other states.”