Rail maker Wabtec Corp eyes $30 million exports from its India operations

Multinational rail parts manufacturer Wabtec Corporation is eyeing a tenfold increase in exports from India in the next three years, a senior executive of the firm said on Monday. The company inaugurated a Rs 150 crore manufacturing facility in the city to bolster its India footprint. “Our current exports from India are $3-4 million and we plan to multiply this number ten times to $30 million in the next three years,” Pascal Schweitzer, global president of the firm’s transit business said. Schweitzer was among the top executives of the company present for the inauguration, along with Senior Vice-President and India Regional Leader Sujatha Narayan, and Managing Director - Transit India Ajay Mani. The new plant will initially manufacture transit rail components and subsystems followed by other Wabtec product lines, the company said. “We intend to grow this site with plans to invest an additional $10 million (Rs 80 crore) over the next few years,” said Narayan. “We currently employ 300 people and as the business grows, we intend to add another 200 employees with a keen focus on diversity hires.” The company was one of the largest foreign direct investment generators in the railways sector after it was awarded the contract to supply 1,000 diesel locomotives for Indian Railways. Narayan said that 600 locomotives have been delivered to the railways through its manufacturing facility in Marhowra, Bihar.