Sat, 03 Dec 2022

Sany Bharat signs MoU with Union Bank of India

ANI PR Wire
22 Nov 2022, 18:15 GMT+10



Pune (Maharashtra) [India], November 22 (ANI/NewsVoir): With an aim to make equipment financing an easy, efficient, and simple process, Sany Bharat recently signed a Memorandum of Understanding (MoU) with Union Bank of India. As per the agreement, the network of Union Bank will extend equipment finance to customers of Sany Bharat across the country and in turn the Bank's portfolio under equipment finance is likely to strengthen and get a wider reach. While both the parties have agreed to pool their resources and capabilities for mutual benefits, buyers of Sany equipment can now avail a loan of up to 90 per cent of the equipment cost. The flexible payment options offered by the bank will facilitate Sany customers to manage cash flow and help in loan repayment. The wide spread presence of Union Bank is expected to facilitate Sany's customers pan India and thereby fortify infrastructure growth which is significant towards creating a Naya Bharat.

The Memorandum of understanding was signed at Mumbai by Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support) Sany Heavy Industry India Pvt. Ltd. and CM Minocha, Chief General Manager, MSME, Union Bank of India.

Speaking on the occasion Dheeraj Panda said, "We are delighted to be associated with Union Bank of India, considered to be a pioneer amongst PSU Banks. By enhancing their focus on MSME sector, Union Bank of India has eased the financial burden for our existing and potential customers," Speaking about the significance of owning a Sany equipment, he further said, "It's a well-known fact that Sany equipment signify quality, productivity and versatility. By joining hands with Union Bank of India, interest rates will no longer prevent our buyers in becoming a proud owner of Sany equipment. Our association with Union Bank will not only be mutually beneficial but has the potential to herald amazing growth prospects for our customers and stakeholders alike."

As per recent reports, Union Bank of India has opened funding for retail and construction Equipment Sector from 10 lakhs loan to Rs. 50 Crores.

Sany Bharat offers the widest range of Construction Machinery in India & South Asia. In 2012, Sany Bharat invested more than INR 750 crores to develop infrastructure for R&D, Manufacturing, Quality Inspection, Testing, and Service at their manufacturing facility in Chakan, Pune. Through this facility, the company operates in multiple Business verticals viz: Earth Moving, Lifting, Foundation, Mining, Ports, Concrete, Roads and Renewable Energy solutions. Presently, Sany Bharat offers products like excavators, truck-mounted cranes, all-terrain and rough terrain cranes, crawler cranes, transit mixers, batching plants, boom pumps, trailer pumps, piling rigs, motor graders, pavers, milling machine, compactors, reach stackers, rubber tyred gantry cranes, rail-mounted gantry cranes, mining equipment, wind turbine generators and many more.

The company has already established a strong network of around 42 dealers and 260 touch points across India to cater to the growing demand and provide support to all its customers & associates. Sany has more than 23000 machines delivered on the ground, contributing to infrastructure development projects in India & other South Asian countries. Owing to its widest product range, superior build quality, service commitment, innovative solutions, and global expertise, Sany Bharat has achieved market leadership in various construction equipment segments. With the Government of India's focus on infrastructure development and modernization, the company is poised for tremendous growth.

This story has been provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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