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GK Winding breaks ground for new plant in Sri City
G K Winding Wires Ltd., a leading manufacturer of winding wires, hosted a ground-breaking ceremony, marking the start of construction of its production unit in Sri City. Sameer Agarwal, Managing Director of the company performed puja and laid the foundation stone.
Tirupati: G K Winding Wires Ltd., a leading manufacturer of winding wires, hosted a ground-breaking ceremony, marking the start of construction of its production unit in Sri City. Sameer Agarwal, Managing Director of the company performed puja and laid the foundation stone.
Speaking on the occasion Sameer Agarwal said, “Ease of doing business and supportive attitude of the Sri City management made us to prefer Sri City. Another major factor was leadership of the state that strike a balance between needs of the industrialists and interests of the local people.
Through this plant, besides meeting the domestic demand, we would export our products to other countries.” Welcoming the entry of GK Winding, Ravindra Sannareddy, Founder and Managing Director, Sri City said, “As is leading brand in enamelled wires, its presence will certainly facilitate the automobile units in Sri City and also those in and around Chennai.” The unit, which will be built in a plot of 5 acre in the Domestic Tariff Zone (DTZ) at an initial investment of around Rs 35 crore, will produce enamelled wires of copper and aluminium.
The plant, which is expected to be ready by March 2019 will create job opportunity for about 100 persons. GK Winding Wires Limited has been in the business of making copper and aluminium winding wires since 1975, and the turnover of the company in the financial year 2017-18 is Rs 410 crore. The company, which is headquartered at Noida, has already three production units in north India, and the Sri City unit will be the fourth plant.
