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Schwing Stetter India to invest Rs 350 cr on greenfield plant in Tamil Nadu

Press Trust of India  |  New Delhi 

Stetter announced Wednesday investment of about Rs 350 crore to set up a new in

The new unit is a step towards strengthening commitment to the Indian market, Stetter said in a statement.

Besides, it will also help the company focus on meeting export potential in and African markets, it added.

It will be located at SIPCOT Industrial Area, Cheyyar, in Tamil Nadu, spread over 53 acres.

The company will be investing about Rs 350 crore in two phases towards installing this technology-enabled and environmentally-sustainable manufacturing facility, it said.

"The new site aims to focus on new product launches and support the progression of engineered products from the prototype stage to serial production," the company added.

Commenting on the development, Stetter said, "The new facility is core to Schwing Stetter's long-term strategy to expand and reinforce our position as one of India's leading concrete equipment manufacturers".

cater to the requirements of infrastructure developers rolling out products like concrete batching plants, concrete mixers for transporting readymade concrete to construction sites, concrete pumps, concrete placing booms, tower cranes, self-loading mixers and concrete recycling plants.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, September 12 2018. 18:50 IST