COINDIA to put in Rs 15 cr on infrastructure

Coimbatore: The Coimbatore Industrial Infrastructure Association (COINDIA) has decided to spend Rs 15 crore on common infrastructurefor the engineering industry. The projects would be completed by the year end. According to the source, the domestic pump and motor industry is likely to witness a 10 per cent growth over the levels achieved in 2004-05, with the exports from this sector growing two-and-a-half times since 2004. The export is now at Rs 80 crore. Foundries could show 25 per cent growth in the last two years and itsturnover is likely to cross the Rs 2,000-crore mark with direct exports including that of industrial valves accounting for Rs 400 crore.