Belgium-based Vermeiren today laid the foundation stone for its production unit at Sri City Special Economic Zone near here at a proposed investment of Rs 50 crore in first phase.
The plant will produce equipment like wheelchairs, walker aids, patient beds.
Vermeiren Group CEO Patrick Vermeiren performed the groundbreaking ceremony in the presence of senior company officials, including Sri City SEZ Managing Director Ravindra Sannareddy", a company statement said.
"The plant, spread across a nine acre land in Sri City SEZ, will witness Rs 50 crore investment in the first phase. It is expected to be ready by end of this year and will employ about 200 people", it said.
"When the facility becomes operational, we anticipate a reduction in lead times for supply to our customers in India, Middle East and Asia Pacific region. We preferred to set up the plant in Sri City as it offers good infrastructure and its proximity to international air and sea ports", Vermeiren said.
Vermeiren Group established its first unit in Belgium in 1957. The company has similar units in Poland and China, the release said.
