The Business Bytes
TBB BUREAU
NEW DELHI, MAR 14, 2024
Sonalika Tractors, India’s leading tractor export brand, has marked a significant milestone in the industrial landscape of Punjab with the laying of the foundation stone for two new cutting-edge plants. The groundbreaking ceremony, graced by Punjab Chief Minister Bhagwant Mann, signifies Sonalika’s commitment to further strengthen its presence in the state.
The expansion includes the establishment of a new tractor assembly plant and a high-pressure foundry, with a total investment of Rs 1300 crore. This move aligns with Sonalika’s pledge to inject fresh investment into its operations, as announced late last year.
The new tractor assembly facility, dedicated to the company’s export commitments, will augment Sonalika’s annual capacity by an additional 1 lakh tractors upon full operation. Similarly, the high-pressure foundry, named DRAS, will become the largest casting plant in North India, boasting cutting-edge technology designed by experienced engineers from Japan. The facility adheres to rigorous Japanese manufacturing standards, ensuring top-notch quality and efficiency, and will significantly expand Sonalika’s presence in over 150 countries.
Expressing gratitude for CM Mann’s presence at the event, Dr. Amrit Sagar Mittal, Vice Chairman of Sonalika Tractors, highlighted the pivotal role of the government in facilitating the establishment of new projects in Punjab. “Sonalika’s latest round of investments in Hoshiarpur will pave the way for solidifying our position as the proud owner of the world’s largest tractor manufacturing facility. The government’s support has been phenomenal, especially through its single-window channel for facilitating the establishment of new projects in Punjab. The collaborative efforts between the private sector and the government are fostering a conducive environment for business growth and innovation,” said Mittal.
Akshay Sangwan, Director of Development & Commercial at Sonalika Tractors, underscored the significance of the new casting plant in enhancing the quality and expansion of Sonalika’s heavy-duty tractor range. “Our heavy-duty tractor range will receive a significant boost in terms of quality and expansion with the new casting plant, which is equipped with a melting capacity of over 1 lakh metric tonnes per annum. With the state-of-the-art German-made Kunkel Wagner high-pressure moulding line, DRAS is poised to enhance the quality of tractors through the production of fine-quality casting,” he said.
During the ceremony, CM Mann toured Sonalika’s existing tractor production facility, which holds the title of the world’s largest tractor manufacturing plant. He lauded the scale and efficiency of operations, acknowledging Sonalika Group’s pivotal role in driving Punjab’s industrial growth.
Sonalika Tractors’ expansion initiative signifies a remarkable stride towards bolstering Punjab’s industrial landscape while reinforcing the company’s position as a global leader in the tractor manufacturing sector.
