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History of Harig Crankshafts Ltd.

The Comp. wasincorporated on 16th April under a joint sector venture between PICUP & Harig India Ltd & it associate namely Deshbir Sing in financial collaboration with Wilhelmus Import & Export Establishment,Switzerland. General:The licenced capacity is 68000 nos per annum.Commercial production is to commence in the last quarter of 1993.M/S Wilhelmus Import & Export Establishment were to provide the basic know how for finished machinery of crankshaft with participation in the equity capital to the extent of 108 lacs.IFCI sanctioned a rupee term loan of 280.57 lacs while IDBI & ICICI gave 280 lacs.20% of rupee loans equal to 31.60 lacs were subject to conversion at par between 1st April 1991 & 31st March 1994.