Ritchie Bros Auctioneers to invest in Hyderabad
According to a report published in the Business Standard, Ritchie Bros Auctioneers is planning to invest and set up its industrial equipment auction operations in Hyderabad.
The report quotes, "we have recently leased a 20-acre site at Shamshabad on the city outskirts to put up equipment for auction. Once we have a business of $20 million (Rs 98 crore) from multiple-auctions at this location, we will establish a permanent site in Hyderabad on 80 acre, which will house close to 5,000 equipment, in two years from now. This will be followed by similar sites in Mumbai, Delhi, Kolkata, Chennai and Bangalore,” Guylain Turgeon, Managing Director (Asia, West Asia and Europe) of Ritchie Bros, told Business Standard.
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