US engg firm to set up facility in Vadodara

Sudhakar Rao / TNN / Oct 19, 2006, 02:37 IST

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Sources say that the ITT Corporation has already shortlisted Vadodara for setting up the high technology pump manufacturing company.

US engg firm to set up facility in Vadodara

VADODARA: A New York-based engineering company, involved in the manufacture of electronic components for defence purposes, is planning to set up its manufacturing facilities in Vadodara.
While the project is in its preliminary stage at present, sources say that the ITT Corporation has already shortlisted Vadodara for setting up the high technology pump manufacturing company.
Officials of ITT Corporation, which has a turnover of 7.4 billion US dollars and employs over 40,000 people the world over, had recently visited Vadodara for this purpose.
It is the one of the world's premier supplier of pumps, systems and services to move, control and treat water and other fluids.

With the investment estimated to be between Rs 20 and 30 crore, the company's project is likely to generate employment for over 500 people.
A nine-member delegation, which recently went to the United States to attract investment as a part of the Vibrant Gujarat Summit to be held in January 2007, held talks with the company officials of ITT Corporation.
While speaking to the TOI, vice president of Federation of Gujarat Industries, Ashok Patel, who was also a part of the delegation that went to the US, said, "We are in regular touch with the company officials and even during my recent visit to the US, they showed a keen interest in Vadodara."

While the ITT Corporation had earlier shortlisted Pune, Coimbatore and Thane for setting up the plant, Patel said that the company is in its last stages of finalising Vadodara for their project.
"With the availability of cheap labour in India, manufacturing industries prefer developing countries rather than developed countries for setting up their projects."
The delegation led by principal secretary Balwant Singh, including president of Reliance Industries Limited Kamal Nanavati (Chemical and Petro), managing director Gujarat Gas Company Ltd, B S Santharaju, met 30 other manufacturing companies during their visit to the US. Among the companies that the delegation met were Dover Corporation, Nova Chemicals, CIC International, Parsons Brinckershoff Inclusive and Phillips Van Huesen, the largest apparel company in the world.
"A study shows that the population of Japan and Russia is declining significantly. So the western countries will be forced to look at India for availability of cheap labour for their projects. We have impressed upon the entrepreneurs that Gujarat has the most sound and advanced Special Economic Zone (SEZ) in the country while it is also an Oil and Gas, petrochemical capital,"added Patel.

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