Taking up container manufacturing, Engineering firm Braithwaite & Co Ltd has earmarked Rs 50 crore as capital expenditure (capex), a company official informed on Sunday.
As the nation sets an eye on indigenous production of containers and reducing dependency on china, the Miniratna public sector undertaking has forayed into the manufacturing segment.
The PSU under the Ministry of Railways has received orders of 350 containers from global logistics major DP World and 1,000 for Container Corporation of India Ltd, the official said.
“We have a big plan for container manufacturing to help traders reduce costs and dependence on imports for such goods carriers. This initiative is in line with the AatmaNirbhar Bharat. We have earmarked Rs 50 crore in this business. The investment will be made in phases.”Yatish Kumar, Chairman and Managing Director, Braithwaite
Working with the state-run Steel Authority of India for specialty steel for manufacturing containers, Braithwaite is taking the risk of manufacturing containers at a time when the market of steel, a raw material for such production, is volatile.
However, Kumar assures that the company will provide containers at a competitive price to support the country’s export highlighting that the segment has growth potential.