Dubai-based Manlift Group to invest up to 25 million euros in India
20 Apr 2023
2 Min Read
CW Team
Manlift Group, a Dubai-based aerial work platform rental company, has planned an additional investment of up to 25 million euros in India as part of a five-year expansion plan. Manlift India has been in business since 2010 and has already invested up to 70 million euros in the country by replacing equivalent machinery.
Manlift India is a subsidiary of the Manlift Group, which is also present in the United Arab Emirates and Qatar. The company is a subsidiary of the Riwal Group, which operates in 14 countries (aside from the Manlift Region, these include the Netherlands, France, Spain, Germany, Poland, Denmark, Sweden, Norway, Croatia, Slovenia, and Kazakhstan).
The company sees a huge opportunity in India's rapidly growing infrastructure development, particularly after the announcement of the PM Gati Shakti National project in the Union Budget 2022, with a budget of up to Rs 100 lakh crore.
Riwal Holding Group CEO Pedro Torres stated. "India represents a significant opportunity for us." Manlift believes that the demand for construction equipment and machinery will grow exponentially in the coming years. We are upbeat about the future and eager to expand our operations in India."
Torres explained that "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."
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Manlift Group, a Dubai-based aerial work platform rental company, has planned an additional investment of up to 25 million euros in India as part of a five-year expansion plan. Manlift India has been in business since 2010 and has already invested up to 70 million euros in the country by replacing equivalent machinery.
Manlift India is a subsidiary of the Manlift Group, which is also present in the United Arab Emirates and Qatar. The company is a subsidiary of the Riwal Group, which operates in 14 countries (aside from the Manlift Region, these include the Netherlands, France, Spain, Germany, Poland, Denmark, Sweden, Norway, Croatia, Slovenia, and Kazakhstan).
The company sees a huge opportunity in India's rapidly growing infrastructure development, particularly after the announcement of the PM Gati Shakti National project in the Union Budget 2022, with a budget of up to Rs 100 lakh crore.
Riwal Holding Group CEO Pedro Torres stated. India represents a significant opportunity for us. Manlift believes that the demand for construction equipment and machinery will grow exponentially in the coming years. We are upbeat about the future and eager to expand our operations in India.
Torres explained that 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.
Also Read
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MMRDA to construct pocket track at Metro Line 4 station
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