‘GEECO’ is a Private Limited Company incorporated in the year 1999.  The company is exclusively working in the field of Air Preheater, a Heat Recovery System used as an Auxiliary Plant in Thermal Power Plants. The present major activities of the company are Designing, Engineering, Manufacturing and Supplying of almost all spares to Air Preheater.  It started its business with State Electricity Boards, National Thermal Power Plants and Captive Power Plants owned by Petroleum, Petrochemical Industries etc. situated all over India. Later on, it has enhanced its activities for the supply of products to Overseas Customers also. 

To enhance the manufacturing infrastructure to suit the requirement of Foreign Buyers (the one acre land where the initial manufacturing unit was stared being insufficient to cater the needs of Foreign Buyers), GEECO proposed during the year 2006 to set up a state-of-the-art  modernized manufacturing set-up of global standard, especially for the Export Market. It approached various Financial Institutions for ‘Term-Loan’,  for the construction of Factory Shed at a lesser rate of interest than that charged by its existing Bank. No banks was interested in extending loan facility with lesser rate of interest for the ‘Factory Modernization’.  

This proposal was discussed with one of the Executive of TIIC during a casual meeting.  Later on to our wonder,  the Branch Manager of TIIC came down to our office within a week of that casual meeting and had a detailed discussion about our requirement. In subsequent meetings, the Project Report was made ready and TIIC gave a preliminary approval for the loan amount of Rs. 300 Lakhs within a month from the date of first meeting with simple procedures. 

Thereafter, the Modernized Factory Shed work was completed and our entire manufacturing activities have been shifted there. Subsequently the second phase of Modernization process also was started with a fresh loan of Rs.387 Lakhs sanctioned by TIIC in addition to the two machinery loans sanctioned by them for Rs.103.50 Lakhs and Rs.4.70 Lakhs. All these loans were sanctioned  within very short time frame and was very helpful to enhance the Export Business multifold within a short time.  

We wish TIIC to continue extending its services in a similar way for the industrial development of the State especially to Export Oriented Industries which earn Foreign Exchange Revenue.