Auto components maker Bosch today inaugurated its new manufacturing plant at Bidadi, near here, which has come up at an investment of Rs 340 crore.
The plant, which has come up on an area of 38,000 sqm, would manufacture products for the diesel systems division.
"This new manufacturing facility will produce diesel products that were previously manufactured at the Adugodi plant, and would have over 2,600 associates working at the facility," Bosch Ltd said in a statement.
The Bidadi plant, which is the company's 14th facility in India, will produce common rail pumps and rails in phase I and conventional fuel injection pumps production will start in the phase II, it added.
The member of the board of management of the Bosch Group responsible for Asia Pacific Peter Tyroller said: "India is a key pillar of our growth strategy in Asia Pacific. A strong local presence is the basis for further growth in the region."
Bosch is on track to double sales in Asia Pacific by 2020, he added referring to the target the company had set in 2014.
Since the ground breaking in September 2013, around Rs 340 crore have been invested in the new plant at Bidadi, the company said.
Bosch President Steffen Berns said the developing industrial area in Bidadi will offer larger space and better infrastructure support for the company's future expansion.
"This will help us cater to the growing business needs of the Indian market in the long-term. We see a lot of growth potential in India and strive to bring more projects, products and manufacturing to the country also in the future," he added.
Bosch has started the production of the common-rail fuel injection system pump in Bidadi, and by 2016-17 the production of newer version of common rail fuel injection pump is expected.
The construction of the Bidadi plant spans over two phases, with the phase II scheduled to be completed by 2018. The plant inauguration took place in the presence of Karnataka Chief Minister Siddaramaiah.
Bosch shares were trading at Rs 23,350 apiece on BSE, up 2.74 per cent from previous close.
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