NEW DELHI: Gainwell Engineering Pvt. Ltd. on Monday said that it has signed a technology licensing agreement for underground mining equipment with Caterpillar, the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
The agreement will enable Gainwell Engineering to manufacture medium and high seam underground room & pillar equipment to cater to growing coal production in India and other countries.
Coal remains the mainstay of energy security for India and emerging economies.
As a part of the agreement, Gainwell Engineering will also supply after-market spare parts and render service support to Caterpillar's existing room & pillar equipment and highwall miners.
Gainwell Engineering is a manufacturing venture of Gainwell Commosales Pvt. Ltd., formerly Tractors India.
The company's endeavour is in line with making India a manufacturing hub.
Gainwell Engineering would set up its manufacturing headquarters in Kolkata, with the plant being set up across 35 acres in Panagarh, West Bengal, at an investment of ₹500 crore. The unit, when fully developed, will generate more than 250 jobs.
It will manufacture select models of continuous miners, face haulers, roof support carriers, scoops / multi utility vehicles, feeder breakers and highwall miner under the Gainwell brand with technology from Caterpillar.
Sunil Kumar Chaturvedi, chairman and managing director, Gainwell Engineering, said, "With the acquisition of the IP license from Caterpillar, our main priority at this stage will be to ensure that our customers experience a seamless transition as we continue to deliver the range of innovative products and exceptional support they have come to expect from Caterpillar."
Commenting on the agreement, Denise Johnson, group president, resource industries, Caterpillar, said, “We are pleased to transition the medium and high seam underground Room and Pillar equipment, as well as the aftermarket licensing, to Gainwell Engineering. Gainwell will invest in a state-of- the-art manufacturing facility in India and supply the products globally. Together, Caterpillar and Gainwell will work to ensure that there is a seamless transition."