Sweden-based renowned industrial group, Sandvik, with its presence in the country for over six decades now has decided to set up a state of the art manufacturing facility on an area of 53 acre at Chakan on the outskirts of Pune in Maharashtra. The company, which has decided to build the manufacturing, research and development centre in a phased manner, has set aside a staggering amount worth Rs. 270cr in the first tranche. The construction work for the plant is all set to start next year and will be ready for commissioning by 2016. The facility will also house Sandvik's R&D centre, which will strengthen its R&D presence in the region to support customers and lead strategic research projects on a global level, President and CEO Olof Faxander said.
He added that the player would make 'strategic investments' primarily to produce equipment used in mining, metal cutting and construction sectors. The 53-acre unit would also house a research and development facility. The latest is the next phase of its evolution in India as the company already has a strong foundation. And the commitment to set up a new world-class manufacturing facility will help the player further innovate and create solutions for India's emerging needs under the visionary 'Make in India' initiative. In his address Sandvik India head Parag Satpute reiterated that the investment at the Chakan facility was a reiteration of the company's belief in building India as a key manufacturing hub for the group by driving synergies and economies of scale to cater to its domestic operations and also meeting its exports requirement, he added.