Construction equipment manufacturer Schwing Stetter India (SSI) is poised to invest about Rs 400 crore in a capacity expansion plan, which will also include a greenfield unit, on the back of growth prospects led by infrastructure development projects in the pipeline.

SSI, will be investing about Rs 100 crore in its factory in Cheyyar, its fifth facility located about 90 km west of Chennai. The company will incur Rs 300 crore in a new greenfield factory for capacity addition as well as making new products such as XCMG loaders and motor graders (earlier imported) for potential road and mining application areas. Besides, it will also manufacture concrete pumps.

The company will require 40 acres of land for the proposed new factory.

In new product segments such as excavators, under the XCMG brand, the hopes to achieve volumes of more than 2000 excavators in 2023, based on product performance and a wide range. SSI has also achieved about 50 percent share in products such as crawler cranes and horizontal drilling machines.In self-loading mixer, it has already touched 450 units so far in this calendar year. 

The 100 percent subsidiary of Schwing GmbH, a German concreting machinery manufacturer which is part of China’s XCMG group, anticipates a growth of about 30 percent. With the order surge, a revenue of about Rs 3,945 crore was achieved in 2022, with about 14,000 units produced in the year.

Moreover, the Central government’s proposed outlay of USD two trillion investments in infrastructure development is expected to positively impact these segments.