NewZNew (Chandigarh) : ThyssenKrupp Elevator, a part of diversified industrial group ThyssenKrupp AG, today announced it will set up a state-of-the-art multipurpose manufacturing plant in the Chakan Industrial Area in Pune, Maharashtra, with an investment of 44 million euros (₹300 crore).
This facility will enable the company to cater to increasing demands from the local market, and is aligned with Prime Minister Narendra Modi’s ‘Make in India’ vision, aimed at promoting domestic manufacturing.
On this occasion, Dr. Michael Thiemann, CEO, ThyssenKrupp India said, “India has ushered in a paradigm shift with its ambitious vision, ‘Make in India’, to boost the local manufacturing sector and uplift the economy. We are eager to participate in this growth by investing ahead of the curve and support the rapid urbanisation in the country through locally manufactured, high-end technology engineering solutions”.
India has some of fastest-growing urban areas in the world and by 2020, the country will have 58 urban conglomerations. There has been a vast increase in the number of high-rise buildings constructed in the country, and with efficient mobility as a key factor in buildings that scale new heights, it is no surprise that India is also the fastest growing elevator market in the world. In view of these elements, ThyssenKrupp Elevator is seizing the moment and focusing on localising its production in the country.
Commenting on the new facility, Mr. Bharat Vishnani, Managing Director of ThyssenKrupp Elevator India, said, “With the government focused on building 100 Smart Cities, including new housing complexes, airports, malls, railway stations, and harbours, we are expecting to see a significant increase in demand for mobility solutions in India. Through our expertise in smart mobility products and long-standing presence in India, ThyssenKrupp is perfectly poised to support this aspect of India’s growth story”.
ThyssenKrupp Elevator aims to complete the new facility in 2017 and achieve 95% manufacturing localisation in the country in the next 3-4 years. The facility’s initial capacity of 6,000 units per year will be extended to 10,000 units per year in FY 2019/20. In addition, the company will establish a SEED Campus (ThyssenKrupp Elevator’s training academy) on-site to improve service efficiency in the field. ThyssenKrupp Elevator will also transition key departments, such as contract engineering, from Mumbai to Pune, with the intention of localising the workforce and building on local talent.
To better cater to local demand, ThyssenKrupp Elevator plans to introduce new elevator and escalator products which are innovative and fully-adjusted to Indian market requirements.
In addition, the company plans to strengthen its Maintenance Services business in the country through highly trained engineers and technicians providing timely and world-class service locally.