With govt making all-out efforts to revive the mining sector, foreign mining companies have shown an optimistic response and have started firming up different strategies to grab a share of the opportunities likely to be thrown up. Foreign mining machinery companies such as ThyssenKrupp of Germany and South Korea’s Hyundai are willing to make India their global manufacturing hub. Big mining companies-like Anglo American, Rio Tinto- are also eyeing at their prospects in India vigorously.
N Sivasubramanian, MD, ThyssenKrupp Industries India, said, "We are upbeat about the new emerging scenario in the mining sector. Whether it is coal, iron ore or any other mineral, if India is to realise its ambitious growth targets, productivity of mining investments will be crucial with technology playing a significant role in this. This is where we have a lot to offer in green and sustainable mining technologies and hope to make India our key manufacturing hub globally."
The company is betting big on the value proposition of reduced energy cost and lower carbon footprint of its cutting-edge equipment such as Integrated Skip Conveying Crushing Systems and Mega Pipes and is pitching for business from new private blocks and companies such as Coal India, NMDC, SAIL, Orissa Mining and Reliance Power, for instance. Hyundai Construction Equipment India, present in the country since 2008, said, "We have identified mining as a strategic thrust area given the likely changes."
Alok Jha, GM, sales and marketing, Hyundai Construction, said, "We are hoping to emerge as a full service player in mining equipment in the next 5-10 years and would look at both organic and inorganic growth to chart our strategy, with aim being to get a market share of 25%."