ThyssenKrupp Elevator, a part of diversified industrial group ThyssenKrupp, is planning to set up a manufacturing plant in Chakan Industrial Area in Pune, Maharashtra, with an investment of Rs 300 crore (44 million euros).
“The facility’s initial capacity of 6,000 units per year will be extended to 10,000 units per year in FY 2019/20,” ThyssenKrupp India CEO Michael Thiemann said.
He added that in addition, the company will establish a SEED Campus (ThyssenKrupp Elevator’s training academy) on-site to improve service efficiency in the field.
“We aim to complete the new facility in 2017 and achieve 95 per cent manufacturing localisation in the country in the next 3-4 years,” Thiemann added.
According to ThyssenKrupp Elevator India MD Bharat Vishnani, the company is well poised to take care of the upcoming growth story in India.