Pitti Engineering has set up a manufacturing plant in Aurangabad with an investment of ₹160 crore and plans to invest another ₹90 crore in second phase over next two years.
The company recently bagged ₹750-crore orders from GE India to supply traction motor-related products and other ancillary products to be used in locomotives being made for the Indian Railways.
Pitti expects more orders from global companies with the Indian Railways focused on achieving 100 per cent indigenous manufacturing of about 20-25 per cent of total fleet of the track machines such as utility vehicles, rail bound maintenance vehicles, track laying equipment, rail threader and rail-cum-road vehicles.
Akshay S Pitti, Vice-Chairman and Managing Director, Pitti Engineering said that there are early signs of global companies moving engineering product sourcing to India from China and the shift is expected catch pace in next three years.
The Indian Railways is planning to increase the domestic content in procurement to 50-80 per cent from 20-50 per cent under ‘Make in India’ policy.
Orders for domestic high-end engineering manufacturing companies are expected to increase with the Diesel Locomotive Factory, the joint venture between the Indian Railways and US-headquartered GE Global Souring India, at Marhowra going on stream, he said.
The joint venture company will manufacture 1,000 high-powered freight locomotives over next 10 years.
Pitti said the Indian Railways’ capital expenditure has been growing steadily and touched an all-time high of ₹1.58 lakh crore this fiscal from ₹1.33 lakh crore logged last fiscal as per government data.
Pitti’s products find application in almost every equipment that rotates or generates electricity.