SCHWING Stetter India, a 100 per cent subsidiary of SCHWINGWING GmBH, has acquired 53 acres of land near Chennai to set up a new unit. The company will be investing around Rs 3.50 billion in two phases.
Part of the $1 billion German Concrete machinery manufacturer and a part of XCMG group, the company is one of India’s leading concrete equipment manufacturers.
The new manufacturing facility will be coming at SIPCOT Industrial Area, Cheyyar, Tiruvannamalai District, Tamil Nadu, around 60 km away from their existing facilities.
Anand Sundaresan, Vice Chairman and Managing Director, SCHWING Stetter India said that the new unit would cater to the emerging infrastructure boom in India and export potential in Asia and African markets.
SCHWING Stetter will be investing about Rs 3.50 billion in two phases towards installing this technology-enabled and environmentally-sustainable manufacturing facility.
The new site aims to focus on new product launches and support the progression of engineered products from the prototype stage to serial production.