Hycom Engineering mulls setting up a third facility in Bidadi, Karnataka with a proposed capital expenditure of Rs 100 crore.

With two operational plants in Peenya which manufacture 40,000 units annually, Hycom aims to double this capacity to 80,000 units by FY29.

The new plant is expected to create direct employment for 250 individuals. Chairman and Managing Director of Hycom Engineering, M Seethapathy Rao, said “While addressing the domestic demand, we are also focusing on exports to accelerate our growth.”

The key export markets for construction equipment for Hycom include North America, Europe, Japan, and China. Among these, the company is currently focusing on the USA, along with Europe.

Founded in 2010, Hycom Engineering is the manufacturer and supplier of swivel joints and rotary actuators used in construction equipment, material handling, and access equipment in India. The company supplies to Hyundai Construction Equipment, CNH Industrial, Sany, Volvo Construction Equipment, and others.