Dubai-Based Manlift Group To Fund Up To 25 Million Euros In India
An extra investment of up to 25 million euros is being planned in India by aerial work platform rental company Manlift Group, which is located in Dubai and plans to make a significant development there over the next five years. Manlift India has been operating since 2010, and since then, it has replaced machinery worth an equivalent amount of up to 70 million euros in the nation.
The Manlift Group, which has operations in the UAE and Qatar, includes Manlift India.
The group is a member of the 14-nation Riwal Group, which includes Kazakhstan, the Manlift Region, the Netherlands, France, Spain, Germany, Poland, Denmark, Sweden, and Norway.
The company views India's rapidly expanding infrastructure development as a tremendous potential, particularly in light of the Union Budget 2022 announcement of the PM Gati Shakti National project with a budget of up to Rs 100 lakh crore.
Talking to PTI, Pedro Torres, CEO, Riwal Holding Group, said. "India for us is a big opportunity. The demand for construction equipment and machinery is already high in India, and Manlift believes it will grow exponentially in the coming years. We are optimistic about the future and looking forward to expanding our operations in India."
In order to tap the rising demand, Torres explained, "we plan to invest 20-25 million euros in India over the next five years to meet the growing demand. This fund will be utilised for establishing new depots and increasing the quantity of highly sought-after machinery."
All different kinds of businesses, including those in real estate, motorways, metros, airports, and railways, can use the tools and equipment that Manlift provides for operating at heights.
Their main source of revenue is equipment and machinery rental, which is supplemented by other services like training. Quality tools for working at height are also available from many of the top brands at Manlift.