Kolkata: Nipha, a city-based engineering and manufacturing company, is planning two greenfield projects in Dankuni and Chandernagore as well as a brownfield project in Falta within the next one year in order to expand its operations in Bengal.
Executive director Anshuman Shah told TOI the company would be shelling out Rs 150 crore over two years for various expansion projects, including the three proposed units in Bengal.
Founded in 1960, Nipha currently has seven operational units, including in Fariadabad, Serampore and Howrah. Apart from India, its main markets are the US, southeast Asia, Europe, Myanmar and Bangladesh.
Marking the 65th year of Nipha's journey, chairman Mahesh Chandra Shah announced the acquisition of a US-based company to bolster its presence in its large market and leverage the ‘China plus one' strategy — diversifying manufacturing and sourcing beyond China.
"In 2024, we have invested around Rs 70 crore-Rs 90 crore throughout India. We are planning to make the same amount of investment in the country this year and next year. The US project will be a separate investment," the chairman said.
Shah added that the company was expecting 20% growth in business this year. Nipha was planning to expand its business in the axles and wheels segment of railways and also manufacturing components for Vande Bharat, he said.