India Globalization Capital said it is expanding its heavy equipment rental business from Kerala, India, to the neighboring state of Karnataka, India. IGC currently rents bulldozers, pneumatic rollers, trailers, generators and Bobcat earthmoving equipment with trained operators to the construction and agricultural industries in India. The company said it is expanding geographically in anticipation of higher overall growth in infrastructure construction under the newly elected government.
According to the consultancy firm Price Waterhouse Coopers, India’s share of the Asia Pacific infrastructure market will continue to grow to about 12.5 percent or $6.6 trillion by 2025.
“We currently operate in Kerala, which lies along the Arabian Sea coast and is affected by the monsoons that virtually shuts down our operations in this region for three to four months a year,” said Ram Mukunda, IGC CEO. “The neighboring state of Kamakata, on the other hand, enjoys 12 months of favorable weather. The recently announced acquisition of land from the settlement with Sricon allows us to obtain bank lines to support the expansion. Once we are established in Karnataka, we expect to expand the model to other states.”
IGC, based in Bethesda, Md., IGC engages in trading, vertical farming and heavy equipment rental in India, China and the United States.
