Wabtec Corporation, a supplier of braking systems to the Indian Railways, has set an ambitious export target of USD 30 million in the next three years, a senior company official said here.
“Our current exports, from India, are USD 3-4 million and plan to multiply this number ten times, to USD 30 million, in the next three years,” Pascal Schweitzer, President – Transit Business, Wabtec Corporation said.
These exports will mostly be for the US and European markets.
The company on Monday inaugurated its new manufacturing campus at Rohtak in Haryana. The new plant has come up at an investment of USD 18 million and will initially manufacture transit rail components and subsystems followed by other Wabtec product lines in the coming years.
“India is an important growth market for Wabtec, especially for the transit business,” Schweitzer said, adding that there are expansion opportunities at the Rohtak unit for the company as far as fabrication units are concerned.
The factory here is set on 10,000 square meters and will commence the production of axle mounted disc brake systems, distributor valves, brake calipers and actuators as well as friction material for freight cars, metro coaches and locomotives for Indian Railways and metros.
“We intend to grow this site with plans to invest an additional USD 10 million over the next few years,” said Sujatha Narayan, Senior Vice President and India Regional Leader, Wabtec Corporation.
Wabtec, one of the largest rail equipment manufacturers in the country has supplied more than 600 locomotives to Indian Railways and the company currently employs 3000 people in India.