Germany-based Henkel AG will invest about 30 million euro (around Rs 210 crore) to set up an adhesives plant near Pune in Maharashtra through its subsidiary Henkel Adhesive Technologies India Pvt Ltd.
The investment is part of its global strategy to strengthen presence in the emerging markets.
Maharashtra Chief Minister Devendra Fadnavis along with Jeremy Hunter, President Henkel Group India, will lay the foundation of the plant on June 11 at Kurkumbh, near Pune.
"We are investing 30 million euro to set up the largest adhesives plant in Kurkumbh, near Pune, having an annual capacity of about 80,000 tonnes of adhesives and surface treatments.
"The new plant is expected to start production by early 2017. The plant will cater to the various end user segments such as automotive, metal and industrial sectors," Hunter told reporters here.
The Kurkumbh plant is being built in a phased manner.
In the first phase, it would have an operational area of about 20,000 square meters and the annual capacity is expected to be about 80,000 metric tonnes of adhesives and surface treatments, Hunter said.
The investment will further support Henkel's global strategy to increase sales and business growth in emerging markets, he added.
Commenting on future plans, Hunter said the plant will enable the company to "localise product portfolio and reduce imports while bringing the best global technology to India". "We are aiming to win a greater market share in India growing at an 10-15 per cent per annum," he said.
Henkel aims to continue achieving above-average growth in the domestic market and to generate net sales of 10 billion euros in emerging markets (rpt) emerging markets by 2016-end.
