Plans to invest ~Rs 500 Crore to set up a manufacturing unit in West Bengal
Mumbai, February 7, 2022: Gainwell Engineering Private Limited, today announced the launch of its operations by entering into a technology licensing agreement for underground mining equipment with Caterpillar, world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The agreement will enable Gainwell Engineering to manufacture medium & high seam underground Room & Pillar Equipment to support the growing coal production in India and other countries around the world. Coal remains the main stay of energy security for India and emerging economies and this initiative will again make the reliable, superior Room & Pillar Equipment available to the global customers. As a part of this agreement, Gainwell Engineering will also supply after-market spare parts and render service support to the existing active population of licensed Caterpillar Room & Pillar Equipment and Highwall Miner.
Gainwell Engineering is a manufacturing venture of Gainwell Commosales Private Limited (formerly Tractors India Private Limited), a company that has a rich legacy of over seven decades of supporting infrastructural progress in India. The launch of Gainwell Engineering brings to focus the enduring capabilities of the nation to develop as a manufacturing hub. The endeavour will fulfil the nation’s vision to develop a self-reliant India or ‘Atmanirbhar Bharat’.
Gainwell Engineering would locate its manufacturing business headquarters in Kolkata, India with its plant being set up across 35 acres in Panagarh, West Bengal, India at an investment of ~Rs 500 Crores (approx. US$ 70 Million) that when fully developed will create an employment opportunity of more than 250 people of highly skilled technicians. Gainwell Engineering will manufacture select models of Continuous Miners, Face Haulers, Roof Support Carriers, Scoops / Multi Utility Vehicles, Feeder Breakers and Highwall Miner under Gainwell brand with technology licensing agreement with Caterpillar.
Commenting on the acquisition, Mr. Sunil Kumar Chaturvedi, Chairman and Managing Director, Gainwell Engineering, said: “We are excited to contribute to a strong industrial manufacturing base in India. Along with our products, services and solutions and people on the ground, we are dedicated to build customer value while helping the customers solve their toughest mining challenges. With the acquisition of the IP license from Caterpillar, our main priority at this stage will be to ensure that our customers experience a seamless transition as we continue to deliver the range of innovative products and exceptional support they have come to expect from Caterpillar. We are bringing together the most experienced people across various nationalities that will help secure our presence in a steadily growing industry.”
Commenting on the agreement, Ms. Denise Johnson, Group President, Resource Industries, Caterpillar said: “We are pleased to transition the medium and high seam underground Room and Pillar equipment, as well as the aftermarket licensing, to Gainwell Engineering. Gainwell will invest in a state-of- the-art manufacturing facility in India and supply the products globally. Together, Caterpillar and Gainwell will work to ensure that there is a seamless transition.”
Gainwell Engineering is committed to provide integrated technology-based solution, ensuring quality and consistency, creating a collaborative and safe work environment for employees and minimizing the impact on the environment. The company is well positioned to capitalize on the substantial growth opportunities in this market in the years ahead.