Grundfos Pumps India Pvt Ltd will set up its third pump production unit by 2020 at an investment of Rs 125 crore. It will come up near Chennai.
Confirming the development, the company’s managing director Ranganath N K said, “Our board has cleared an investment of Rs 125 crore.” He also said works would start next year.
The company is the Indian subsidiary of Denmark-based Grundfos. Ranganath further said even though several States had invited Grundfos, it was natural tendency to establish the unit in Tamil Nadu as it possessed 15 acres of land near Chennai.
He however expressed disappointment on the policy and system fronts. “It takes a long time to get approvals in Tamil Nadu. It is quite tardy. We were able to get approvals in Gujarat. We will be meeting the top Tamil Nadu officials soon in this regard,” he was quoted as saying by The Hindu.
Image Credit : spares-for-pumps.com