Thin Walled Cold Forged Socket Plant set up in City
Author(s): City Air NewsLudhiana, October 2, 2012: A cold forged socket manufacturing plant has been inaugurated by Anil Joshi, Minister for Industries and Commerce, Punjab on September 27 at the Institute for Autoparts and Hand Tools...
Ludhiana, October 2, 2012: A cold forged socket manufacturing plant has been inaugurated by Anil Joshi, Minister for Industries and Commerce, Punjab on September 27 at the Institute for Autoparts and Hand Tools Technology at Focal Point, Ludhiana.
A.R. Talwar, Principal Secretary Industries and Commerce, Punjab and Vikas Partap, Director Industries nd Commerce, Punjab were present at the time of inauguration.
This plant will make thin walled cold forged socket wrenches (Hand Tools).
This plant, according to SC Ralhan, President, Ludhiana Hand Tools Association, has been put up in the industrial hub with an investment of Rs. 12 crore of which Rs. 10.50 crore has come from the Punjab Government under the Assistance to States for Developing Export Infrastructure and Allied Activities (ASIDE) scheme. ASIDE Scheme encourages the state government / Union Territories to promote exports by creating appropriate export infrastructure and by providing facilitation for export promotion.
The plant has been inaugurated at the Institute for Autoparts and Hand Tools Technology.
The facility is going to be a boon for the hand tools manufacturers of Punjab, as the product quality of this manufacturing plant will match international standards and shall provide the much needed cutting edge for the exporters. Cold forged socket manufacturing technology will now enable exporters of hand tools in Ludhiana and rest of Punjab to find buyers in all nook and corners of the world. Hand Tools Industry now looks at exports of Rs. 3,000 crore in next three to five years.
Hand Tools Manufacturers, predominantly are SME’s and is a Natural Existing Cluster in Punjab since 1950. There are about 400 SME’s engaged in manufacturing of Hand Tools in the state. More than 90% of manufacturers and exporters in hand tools sector is from Punjab. The estimated export contribution of the sector is around Rs. 800 crores. There is about 400 crores of hand tools being imported from other countries.
With the installation of Turnkey Project for manufacturers of Cold Forged Sockets and Bright Hardening Heat Treatment processes for cold forged sockets shall meet Global Quality Norms and it will be an import substitution and save foreign exchange upto 400 crore.
Ludhiana Hand Tools Technology, Ludhiana has contributed substantially in the project without any equity. We are thankful to the State Govt. of Punjab for their help and valuable guidance for implementation of this project. The Association is in regular touch since 2007 with the Institute for Autoparts Technology which was re-designated as Institute for Autoparts and Hand Tools Technology, Ludhiana.
“The Association is proud to be associated with the state government by participating and for identifying the right type of the technology”, said Ralhan, adding the association has given its inputs not only in the shape of financial support but also has worked very closely for the procurement of the Plant, Machinery and Equipment. of this Turnkey Project.
The whole project has been completed in record 3 years time.
The industry will definitely utilise the machinery and they are confident that the common facility shall run on commercial basis, said Ralhan adding, in order to accelerate the process of taking commercial production; they have already registered as SPV of Ludhiana Hand Tools R&D Pvt .Ltd., for the purpose and are in the process of procuring Cold Head Quality (CHQ) material for these machines. These machines will meet the complete demand of the country for domestic market & exports.
“It has been made possible only with the complete cooperation of the Officers of the Department of Industries and Commerce for providing all the help and co-operation for the successful commissioning of the plant / machinery / equipment in the Institute”, said Ralhan.