Monday, June 27th, 2022
CECR

AJAX Engineering Acquires Land Parcel

AJAX Engineering has acquired a 20 acre land parcel in Bengaluru, Karnataka, and will invest Rs 100 Crore to develop a new manufacturing facility.

The company aims to expand operations in anticipation of greater demand for its equipment post-lockdown.

The company is likely to get orders from government infrastructure projects post-lockdown and from real estate developers in the residential segment who are in a hurry to complete the projects after facing delays due to the lockdown.

The 20 acre land parcel has been acquired from the Karnataka Industrial Areas Development Board (KIADB) for Rs 34 crore and will invest another Rs 60-70 crore to develop the facility.

The company has manufacturing facilities at Doddaballapur and Gowribidanur in the city outskirts.

 

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