Byline: The Goan Network
Pai Kane Group, which till recently is mostly known for generator sets, has embarked upon an ambitious diversification plan of manufacturing marine gensets and propulsion systems by tying up with a German company called Deutz.
This information was shared by group’s executive chairman Atul Pai Kane at a press conference on Tueasday. The company is transforming itself at a rapid pace as it has also signed a non-disclosure agreement with another South-Korean company. Pai Kane said it was too early to comment on the product for which his group is going to collaborate with the South-Korean company.
For its marine gensets, the company is already in discussions with Pipapav Shipyard, Larsen &Toubro among several other players. In short, the company is diversifying into making marine gensets and other related products from land-based gensets right now. Banking on this strategy, Pai Kane informed that his group is aiming at a turnover amounting to Rs 650 crores by 2019-20. As of now, the company’s sales are to the tune of Rs 330 crores, which means that it intends to double its revenue base in 4-5 years.
Expansion of this scale will require more work-force too. Pai Kane said, “We think our expansion has potential to create 100-150 jobs in near future. To this end, we will work closely with educational institutions to create right workforce. As of now, we are working with ITI in Pernem”. The company has 535 employees as of today. Pai Kane stressed that 95% of his employees are Goans and said, “We think Goans are very, very skilful. We want to employ only Goans as far as possible”
