WPIL eyes exports to Vietnam, sets itself Rs 10-crore target
Our Bureau
Calcutta, Jan 20: WPIL Ltd, formerly Worthington Pump India Ltd, expects to export a considerable number of pumps to Vietnam during the current and the next financial year. WPIL, a Williamson Magor group company of BM Khaitan has already bagged orders to the tune of $1.7 million (approximately Rs 6 crore) and hopes to end the year with exports of Rs 10 crore to Vietnam. The target for fiscal 1998-99 is Rs 20 crore.Vice chairman Prahlad Bajaj told this to reporters at a press conference in the company's factory at Panihati in North 24 Parganas in the presence of a Vietnamese delegation led by vice minister of agriculture and rural development Vu Trong Hong. Export orders for the company came after the upgradation of Vietnam's irrigation system. The total cost of the irrigation project is between $80 million and $100 million and is funded by the World Bank. Out of the whole project, pumps worth of $15 million will be purchased through an international bidding process. WPIL managing director AK Palit said
the company is also trying to export pumps to Malaysia, Philippines and Thailand. "After a massive devaluation of their currencies we have a good chance of export to those countries." WPIL has also signed a memorandum of understanding with the International Cooperation of MARD of Vietnam to work in close coordination for the modernisation of the existing pumps in Vietnam, sharing of the latest development in the field of hydraulic engineering and pump technology and to impart training to modernise existing pump installations. Bajaj said the agreement was signed in April 1997. He said both the organisations have already started working and may form a joint venture in future. "WPIL and MARD hope to carry on cooperation in the long run including formation of a joint venture and co-manufacturing at Vietnam. It will depend on the development of business in Vietnam," Bajaj said. The Vietnamese vice minister said only Indian pumps will be imported for the irrigation project. He appreciated the testing divisionof WPIL. "This is one of the best five pump testing centres in the world and certainly one of the best in Asia. It is as good as any in Japan," Hong added.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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