New Delhi: Quipo, the Indian Infrastructure Equipment-promoted equipment bank, has opened its first hub in Gurgaon, Haryana.

Quipo rents out infrastructure building and construction machinery. In order to avoid long periods of idle time of their equipment, equipment owners can register with Quipo, which in turn hires them out to project developers and contractors.

"This will result in a win-win situation for all parties. Owners receive an income from hitherto idle equipment, contractors lower their costs by not having to purchase top line equipment outright nor have to worry about their maintenance," says Quipo chairman and managing director Sunil Kanoria.

To streamline the entire process of equipment availability, renting and their servicing, Quipo is setting up strategically-located hubs, which will be much more than a mere warehouse for available equipment. These hubs will be a centre for display, demonstration, training, servicing and maintenance, says Kanoria.

Quipo plans to open two more hubs in Hyderabad and Mumbai.