January 23, 2019
Coimbatore : The City-based water technology firm EKKI that produces pumps and systems 0n Wednesday entered into an MoU with the Tamil Nadu State government during the Global Investors meet (GIM) 2019 being held at Chennai.
This was as part of the company’s efforts to setup facilities for its newly formed Joint Venture with German Pump major HOMA in the city.
The MoU was signed in the presence of Chief Minister Edappadi K. Palaniswami and Senior government officials by Kanishka Arumugam Chief Executive of EKKI HOMA and Velmurugan Executive Vice Chairman – Investment Promotion Tamil Nadu Industrial Guidance and Export Promotion Bureau.
The bureau, the designated nodal agency for facilitating single window approvals for industries in the State for business investments above Rs.10 crores will help facilitate EKKI to get all necessary approvals, Arumugam said in a release here.
HOMA Group is investing nearly Rs.150 Crores in their global expansion both in Germany and world-over and a portion of it would be for Indian JV too.
Both partners will invest into the JV over the next few years in a phased manner and the alliance will create an employment opportunity to nearly 100 people. EKKI HOMA is building its manufacturing facility here, which is expected to begin production by 2020, which will address India and neighboring country’s needs.
The Coimbatore based water technology major produces pumps and systems under the EKKI and DECCAN Brands.