Kolkata: Schneider Electric on Thursday said it plans to invest ₹140 crore to set up a new factory in West Bengal.
“The new facility will be located at Prospace Industrial Park Pvt Ltd in Kolkata, covering an area of 9 acres,” Schneider Electric said in a statement.
”Schneider Electric aims to grow its capacity in producing products such as vacuum interrupters (VI) and strengthen its power systems vertical through this new factory,” it added.
This new facility is planned to be completed by February 2024, with the manufacturing operations expected to begin in the second quarter of the next financial year, the company added.
“We will be investing approximately ₹140 crore for setting up of this new facility which will enable economic development and job creation in the state. With 60 years of presence in India, we will continue to contribute actively towards an Atmanirbhar Bharat by manufacturing in India for India and for the globe. Our efforts are aimed at cementing India’s position as a world leader in exports and manufacturing. I thank the Government of India and West Bengal for their support,” said Deepak Sharma, Zone President (Designate) – Greater India, Schneider Electric and MD and CEO SEIPL (Designate).
“The idea behind the development of this factory is to strengthen India’s growing position as a global force in manufacturing and exports. This upcoming factory will bind the power of India’s talent and vision of self-reliance into a global phenomenon. This new facility will export 50% of the peak volume capacity, meeting the need of customers in India and across the world. Our new age digital technologies will prove to be a game changer in the energy management industry for years to come,” said Nitin Bakshi, Vice President, Global Supply Chain- India, MEA, SAM & Pacific, Schneider Electric.
