Coimbatore-based Sieger Parking plans to invest about Rs. 50 crore in another two years to ramp up capacity for production of automated car parking systems.

G. Radhakrishnan, Managing Director of Sieger Spintech Equipment, told The Hindu here on Friday that the company has executed a couple of projects in the city since January last year. It has the capacity to make 3,000 slots a year and is hopeful of achieving full capacity utilisation in three years.

“We hope to touch Rs. 200 crore turnover in three years,” he said.

Sieger has come out with four versions of car parking solutions, developed with inputs from its Australian knowledge partner (Hercules Car Parking). It offers modular solutions that can be added at the execution stage depending on the requirement of the customer.

The average execution time is 100 days for 100 car parking slots and the average cost is Rs.3.5 lakh for a slot (end-to-end), he added.

It will focus on the south Indian markets initially as service and maintenance of the systems are important. “Service will drive sales and hence, we are going to be in south India pre-dominantly. Cities such as Chennai and Bengaluru will be the growth drivers and we see potential in smaller cities such as Tirupur and Erode too,” he said. It will also explore opportunities in Australia, in association with its partner.

The company also wants to partner with local bodies in the next one year for the Smart Cities projects to create smart parking spaces.

The market for automated and semi-automated parking systems is huge in the country, especially in hospitals, apartments and retail outlets, he said.

The company is in talks to execute about 800 parking slots.

M. Soundariya Preetha