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Calcutta, May 24: Dubai-based Gorica Group of Companies expects its Indian subsidiary, Gorica Auto India Ltd, to garner revenues of 50 million euros by 2009.

The 100-million-euro group manufactures trailers, tippers and loaders.

Its Indian subsidiary has a plant in Kalyani.

The plant has already started trial production.

“We expect our Indian operations to yield a turnover of 50 million euros by 2009. We started setting up base in India three years ago and got land in November 2006,” said Gorica Group chairman Ivan Fornazaric.

Gorica is in talks with Volvo, Ashok Leyland and Telcon for manufacturing body parts.

The group will invest around Rs 50 crore in the Kalyani plant in three phases.

The plant’s current capacity is 25 to 30 units a month in a single shift, which will be doubled when shifts are increased.

Gorika’s Dubai plant is capable of manufacturing 300 units per month.

The group will recruit 100 employees for the Kalyani plant by the end of this year and increase the headcount to 300 in the next three years.

In the second and third phases, the company may consider diversifying into refrigerated bodies and refuse compactors.

Work on the second phase will start after September. Each phase will involve an investment of around Rs 15 crore.

Gorica is also considering Pune and Bangalore to set up base.

Company officials said the Kalyani plant could be the mother plant while the others would be sub-assembly plants. A format, however, is yet to be agreed upon.

Gorica sources spares from Italy, Germany and Singapore.

However, it is also looking at Indian companies for spare parts and may also source parts from German firm Jost and Netherlands-based Hiva that have set up base in Jamshedpur and Mumbai, respectively.

Products such as concrete mixers and bulk tankers need servicing, for which the company will open service centres once it establishes a pan-India presence.