Having met the Gujarat Chief Minister Narendra Modi on Tuesday, Swiss automotive gear major OC Oerlikon Group chairman Tim Summers has evinced interest for setting up a gears manufacturing plant in the state.
According to an official statement by the state government, the Swiss major plans to set up a 'drive system in vehicle' gear manufacturing plant.
"The company's plant in Gujarat will see 100 per cent foreign investment and will generate employment for over 1,000 youths. The CM has offered all kinds of government support the company's future plans in Gujarat," as per the statement.
Through Oerlikon Graziano, the world's largest manufacturer of precision gears and shafts, the Swiss Group is likely to invest more than Rs 100 crore to set up the manufacturing plant in Gujarat.
Oerlikon Graziano supplies gears to Ferrari, Mercedes and BMW among other car manufacturers. Its products are also used in tractors and off-road vehicles such as road rollers and bumpers.The company has two gear manufacturing plants in the country — at Kolhapur and Greater Noida, while its third plant could come up in Gujarat.
Apparently, the company requires around 30-35 acre land which it has identified Sanand, where leading car manufacturers such as Ford and Peugeot are setting up their plants, for its gear manufacturing unit.
Moreover, at a capacity to produce 350,000 units per annum, Oerlikon's plant will also manufacture shafts and sync assemblies, among other parts. Construction of the plant is likely to be completed within two years from the commencement of work, sources added.
