Siemens VAI, a 100 per cent subsidiary of Siemens AG Germany, may look at setting up a manufacturing base for equipments catering to the flat steel products segment in eastern India.
Addressing the media, Ashoke Pan, responsible for the metals technologies business of Siemens VAI in India said that the company could look at a base in the eastern India given the demand.
The company today implemented an initiative in Kolkata to extend the business portfolio with modernization, upgrades, special equipment and services to support growth.
“We want to expand our capacities in India and services to support growth. We want to expand our capacities in India and to develop and train our employees to make a strong team for securing and sustaining our position in this market segment,” said Pan.
Siemens VAI currently has an order intake for projects and services in India up to 600 million euros till September 30, which is the first 10 months of the year for the company.
“Siemens VAI is currently executing more than 10 mega projects to increase Indian steel production and product processing. Also we are engaged in upgrading and modernization in many Indian steel companies to improve the productivity and product quality to become competitive globally,” said Pan.
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Siemens VAI employs around 400 engineers and staff in Kolkata and Mumbai to support customers locally. The mining segment manufactures its inverter/control components for shovels and trucks for the world market at its factory in Nashik.
In April 2008 Siemens VAI acquired Morgan Construction, Worcestre, Massachusetts, a leading US supplier of long products with 500 wire, steel and billet rolling mills all over the world, to expand its position in this market segment.