Despite the ongoing war with Ukraine, the Russian plant of the Murugappa group is running smoothly and is profitable. , said MM Murugappan, Chairman, Carborundum Universal Ltd (CUMI) of the Murugappa Group.
The group invested in a plant that had operated during the Soviet times, and it had a good leadership. It’s been 16 years now, and the group is extremely happy and the plant is very profitable, he said at TiECon 2022.
However, at this point of time, nobody knows what is happening in that country. There are no issues with the business, which is running profitably. There are around 1,700 employees in Russia. They have no clue on what is happening in Russia as well, he said in a Fireside chat with CK Ranganathan, CMD, Cavinkare and President of TiE, Chennai.
Why Russia?
On what the group made to invest in Russia, Murugappan said the group’s plants in Kerala consumed a lot of power. Whenever the government in Kerala changed, the group’s officials would go and meet the ministers concerned seeking more power supply. However, there was no action, thus forcing the group to invest in Russia.
“We still go back and forth much to the concern of my family but nevertheless, it was a challenge. We took up that challenge. To find a way early the plant was set up in Russia, thanks to the Kerala government at that time. Now, we have to chart a path on how to handle the current situation in Russia,” he said.