Sandvik, the Swedish engineering group involved in tooling, materials technology, mining and construction industries, is investing around Rs 275 crore in a new manufacturing facility near Pune. The facility, which will come up at Chakan, will be developed in phased manner over the next five years. In the first tranche, Sandvik has announced a $45 million (around Rs 275 crore) commitment to commence development of the site by mid-2015. Development of the facility will commence in mid-2015 and it will become operational by 2016.
Olof Faxander, President and CEO, Sandvik AB, said, “This is the next phase of our evolution in India. We have a strong foundation in India already and this commitment to set up a new world-class manufacturing facility will help us further innovate and create solutions for India’s emerging needs under the visionary ‘Make in India’ initiative.”
The manufacturing facility at Chakan will have the capability to deliver multiple products catering to Sandvik’s diverse businesses which include products and solutions for metal cutting, mining and construction industries as well as high value-added products in advanced stainless steels, special alloys and titanium as well as metallic and ceramic resistance materials.
This Chakan facility will also host Sandvik’s Group R&D center based in India. The new R&D center will strengthen Sandvik’s R&D presence in the region to support customers and lead strategic research projects on a global level.
FOR COMPLETE REPORT READ: Sandvik to set up manufacturing unit in Chakan
Olof Faxander, President and CEO, Sandvik AB, said, “This is the next phase of our evolution in India. We have a strong foundation in India already and this commitment to set up a new world-class manufacturing facility will help us further innovate and create solutions for India’s emerging needs under the visionary ‘Make in India’ initiative.”
The manufacturing facility at Chakan will have the capability to deliver multiple products catering to Sandvik’s diverse businesses which include products and solutions for metal cutting, mining and construction industries as well as high value-added products in advanced stainless steels, special alloys and titanium as well as metallic and ceramic resistance materials.
This Chakan facility will also host Sandvik’s Group R&D center based in India. The new R&D center will strengthen Sandvik’s R&D presence in the region to support customers and lead strategic research projects on a global level.
FOR COMPLETE REPORT READ: Sandvik to set up manufacturing unit in Chakan