SKF to invest Rs 150 cr in Uttarakhand

Bearings manufacturer SKF India has announced that it would invest over Rs 150 crore to set up a greenfield manufacturing facility in Haridwar, Uttarakhand.

SKF said that the new bearings factory will increase the company's ball-bearings capacity by one-third. The state-of-the-art plant, situated over 40,000 sq m, will be operational in March 2008 and is likely to employ over 300 people, the release said.

Rakesh Makhija, Managing Director, SKF India Ltd said, "Uttarakhand is an emerging industrial hub and SKF's strategic move to increase the production capacity through the Haridwar plant signifies the company's commitment not only to serve our customers effectively but also reinforces our leadership position in the Indian sub-continent."