Sandvik to strengthen its R&D in India; to source more, and to build a new plant Sandvik is aiming to develop its India unit as a specialised centre of excellence by 2016. Accordingly, the company has acquired 50 acres of land for Rs64 crore in the Chakan industrial area of Pune. The plant will produce India specific products across Sandvik's portfolio for mining, machining solutions, materials technology and construction. The company will also be investing considerably in R&D by 2016. It continues to successfully add new products across business interests. To start with, Sandvik has launched its locally designed, sourced and manufactured surface rock drill 160 D for the Indian market. This is one of the first developments from Sandvik's engineering and design centre, which will now be expanded. This will be complemented by strengthened teams at Bangalore, Kolkata and Gurgaon. Ajay Sambrani, MD, Sandvik Asia, said, “We believe in the India growth story and will continue to invest in this market. However, the government needs to push for reforms to
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in numbers
Rs
2052.58 crore
Olof Faxander, CEO & president, Sandvik Group and Ajay Sambrani, MD, Sandvik Asia announcing acquisition of land for a new plant in Chakan
unleash India’s potential in the manufacturing and infrastructure segments.” Olof Faxander, CEO & president, Sandvik Group added, “Sandvik will increase sourcing from India for its global operations for components, assemblies, materials, spares and consumables. Our overall focus is to provide added values to ensure the customers’ enhanced productivity, higher competitiveness and increased profitability.”
Funds approved by the government for setting up a diesel locomotive factory at Marhowra, Bihar, besides Rs1293.57 crore for setting up of an electric locomotive factory at Madhepura, also in Bihar.
31-05-2013 13:55:56