Chinese press maker Bole to invest $100 million in the India venture

摘要

The Chinese manufacturer of Bole-brand injection molding machines has opened a manufacturing plant in Ahmedabad and plans to invest $100 million in the India venture over the next four years. Zhejiang, China-based Ningbo Shuangma Machinery Industry Co. Ltd. opened a leased factory in June under a new independent subsidiary, Shuangma Machinery India Pvt. Ltd. "We have already commenced production of injection molding presses ranging from 70 to 900 tons at the Gujarat plant," said Ken Cheng, general manager of the subsidiary. Bole plans to build its own factory in Gujarat in the next couple of years. "Initially, our target is to manufacture 20 presses each month," Cheng said. Bole has ambitious plans to invest $100 million in the India venture over the next four years. "This is considered as one of the first big-ticket foreign direct investments in the plastic processing industry from China, and our target is to take production to up to 1,000 presses annually," said Devang Mehta, deputy general manager.