COFIDES Chairman, Salvador Marín, and INOXPA Grup S.A. General Manager, Cándido Granes, have signed an agreement whereby COFIDES will put up three million euro through a seven-year loan to expand INOXPAs production capabilities in its Pune plant (state of Maharashtra), India.
The whole operation amounts to 4,072,000 euro, which INOXPA will use to produce valves and kits for export to the other companies in its group, as well as develop specific products for the local market. A Bañolas (Gerona)-based company, specialised in the manufacture of pumps for the food industry, INOXPA owns its India plant since May 2008.
Following the agreement signature, COFIDES Chairman Salvador Marín highlighted the significant international presence of INOXPA by virtue of Research and Development. This project also reinforces its competitiveness and also expands its products and market share. He further stated that its quite gratifying to support such a reliable project with long-range possibilities.
