COINDIA Raw Material Bank
COINDIA - RAW MATERIAL BANK is being launched on 1st September 2008. The said RMB is located at Chinnavedampatti, on the main road. It is coming up at 1 acre of land.
Our RMB Yard is having a capacity to store 2000 MT of Pig Iron, 1500 MT Met Coke, 500 MT of MS/SS Rods etc.
Objective of RMB - To reduce major raw materials cost of foundry industries, pump set industries and general engineering industries by minimum 3-5%.
In the first phase we are going to concentrate in the raw materials
Weigh Bridge Pooja function held on 27th August 2010
In the second phase we are planning to have bulk purchase of MS scrap and cast iron scrap. According to the availability we can import the same.
Under the current scenario of price instability coupled with permanent pressure from the original equipment manufacturers on price reduction, Tiny and Small Entrepreneurs are put to untold hardships. Precious time to be spent on product development are wasted on price related issues and related matters.
To supplement, support and to help Tiny and Small Entrepreneurs, COINDIA thought it fit to launch RMB and materials will be made available to these Enterprises at all most cost price.
The total 600 foundry units including capital foundries and 600 pumpset manufacturers will require minimum 10000 tons of Pig Iron, 1000 tons of SS Rods, 300 tons SS Sheets, 500 MT of MS Sheets, 250 tons of Enamel Copper Wire and Rs.2-3 lakhs of Ball Bearings per month.
Our main focus is helping micro, small and medium industries to produce their products with lesser raw material cost to cater Indian domestic markets.
COINDIA already formed methods and procedures to achieve its objective by leveraging the collective strength and industry capacity.
Generally, small scale engineering industries procure only part loads i.e. less than 5 tons or 2 tons at a time for their production. Our COINDIA yard will fulfill this purpose/requirements.
The above concept was discussed among the various industrial Associations like COSMAFAN, COFIOA, CODISSIA, SIEMA, IIF and TAPMA. With unstinted support from these Associations, COINDIA is able to rise up to the expectations and the RMB is a reality now.
We acknowledge the support received from various Governmental Agencies in translating the concept into reality and the RMB is born. It will be inaugurated by the Hon’ble Minister for Rural Industries and Animal Husbandry Dept. Shri. Pongalur N. Palanisamy and Hon’ble Minister of State for Textiles Shri. E.V.K.S. Elangovan and Member of Parliament Shri. K. Subbarayan have kindly consented to participate and bless the function.
This being a maiden initiative, COINDIA has availed the co-operation from Members of various Associations to make this a success.