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The Indo-Korean train seating systems joint venture Machani Ramesh Engineering (MRE) will start commercial production of seats for metro trains from December onwards at its plant here.
The MRE is a 60:40 joint venture (JV) between SSS Springs and Daewon Corporation. The SSS Springs is India’s largest manufacturer of springs part of the Bengaluru based Machani group having interests in automobile, defence, real estate and others.
On the other hand, Daewon Corporation is one of the world’s leading automobile seating manufacturers from South Korea.
The MRE is starting its operations with an order book position of about Rs.100 crore, group officials told media.
According to Satish Machani, Chairman and Managing Director, SSS Springs, India will be building the largest number of metro rails in the world over the next 10 years. Over 50 Indian cities will have metro rail service from the current 10 cities.
Over 50 Indian cities will have metro rail service from the current 10 cities.
The JV will be addressing a market valued at $1.6 billion plus per annum, Machani said.
India’s transportation sector is expected to witness strong growth over the next few years with upcoming metro and light rail transit, railways, bus, and passenger-cars projects.
The country’s metro railway network covers 800 km, and is expected to add another 1,100 km distance in the next decade. An additional 1,000 km of metro connectivity has been proposed.
By 2047, India is expected to have metro connectivity across 100 cities stretching 5,000 km, the largest in the world, surpassing China, Machani said.
The joint-venture is expected to cater to the strong business opportunity, resulting from this boom.
Besides serving the domestic market, the JV is expected to offer products for exports in the coming years.
The JV partners will increase their investments to over $25 million in phases in production, R&D and also start supplying seating systems to the automobile sector, said Ashok Kumar Nayak, Managing Director.
The Daewon Corporation has been supplying the seating systems from Korea to Bombardier Transportation that has supplied trains for the Delhi Metro. “We were looking to translate our global leadership in the seat’s module business across rail and automotive segments to a sustainable long-term strategy for India,” remarked Herbert Kim, Director, Daewon Corporation.
According to him, the joint venture will bring the latest technologies in terms of light weighting, design, ergonomics, safety and high-speed to the Indian market.
The joint venture will bring the latest technologies in terms of light weighting, design, ergonomics, safety and high-speed to the Indian market.
According to Machani, the company will start seat supplies to buses and other automobiles in the second phase.
The Bengaluru-based SSS Springs is India’s largest spring manufacturer with 14 manufacturing facilities, including one in the US.
The company offers its products to over 200 original equipment manufacturers (OEMs) in the automotive industry like Toyota, Honda, Suzuki, Hyundai, Daimler, Bosch, and others.
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