Standard Engineering Expansion with New Plant

High-precision engineering services company, Standard Engineering Technology (formerly Standard Glass Lining Technology), is setting up a new plant with an investment of Rs. 240 crore. In the first phase, the company will invest Rs. 120 crore, according to promoter Kandula Nageswara Rao. He stated that the plant is expected to become operational within the next year.

Additionally, the company is investing nearly Rs. 60 crore in upgrading existing plants and has already invested Rs. 20 crore. Speaking on the occasion of unveiling the company’s new logo, Rao mentioned that the company is projecting an annual revenue of around Rs. 760–800 crore this year, offering 95 different types of products. Exports currently contribute 13 percent to the company’s overall revenue.