Japanese multinational Hitachi on Thursday announced it was setting up a Rs.100 crore manufacturing facility here to make ATMs for the Indian market.
"The facility will have an installed capacity to roll out 1,500 ATMs a month from this year-end," Hitachi Terminal Solutions India said in a statement here.
Hitachi Terminal Solutions is the Indian venture of Hitachi-Omron Terminal Solutions of the parent company's conglomerate.
"Aimed at strengthening ATM business in the sub-continent, the subsidiary will strive to meet the Indian market needs through cost competitiveness, faster production cycle and delivery to expand the business of cash recycling ATM," it said
Cash recycling ATMs recycle deposited cash in the ATMs and enable it to be dispensed in future transactions.
"Hitachi-Omron Terminal Solutions entered the cash recycling ATM market in India at an early stage and has been providing ATMs that are suited to India's environment," the statement quoted Hitachi-Omron Terminal Solutions president Tetsuji Shimojo as saying.
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The company deployed more than 5,000 machines in 2015 and aims to support India's India's financial infrastructure construction.
The new venture will create jobs and contribute to the economic development of India as it is aligned to aMake in India' programme, the statement added.