An official from Braithwaite & Co Ltd said on Sunday that the engineering firm has set aside Rs 50 crore as capital expenditure (capex) for expanding container manufacturing. As the country focuses on indigenous container manufacturing and minimising reliance on China for such cargo carriers, the Miniratna public sector undertaking has entered the manufacturing industry. According to the official, the PSU under the Ministry of Railways has received orders for 350 containers from global logistics firm DP World and 1,000 containers from Container Corporation of India Ltd.
We have a large container manufacturing plan in place to assist traders in lowering costs and reducing their reliance on imported containers. This effort is in keeping with the AatmaNirbhar Bharat initiative. We have set aside Rs 50 crore for this venture. The investment will be made in phases, Braithwaite Chairman and Managing Director Yatish Kumar said.
Braithwaite is also collaborating with the state-run Steel Authority of India for procuring speciality steel for manufacturing containers. The company is delving deep into container manufacturing at a time when the prices of steel are volatile.
