Engineering firm Braithwaite plans Rs 50 cr capex for container biz

Engineering firm Braithwaite & Co Ltd has earmarked Rs 50 crore as capital expenditure (capex) for taking up container manufacturing in a big way, a company official said on Sunday.

The Miniratna public sector undertaking has forayed into the manufacturing segment as the country is focusing on indigenous production of containers and reducing dependence on China for such goods carriers.

The PSU under the Ministry of Railways has orders of 350 containers for 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 cost 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, Braithwaite Chairman and Managing Director Yatish Kumar told PTI.

Braithwaite was also working with the state-run Steel Authority of India for speciality steel for manufacturing containers, he said.

We have orders of 350 containers for DP World and 1,000 for Concor, Kumar said.

He said the Kolkata-based engineering firm is taking the risk of manufacturing containers at a time when the market of steel, a raw material for such production, is volatile.

“The segment (container manufacturing) has potential for growth. We will provide containers at a competitive price to support the country’s export, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor