SCHWING Stetter to set up greenfield plant near Chennai at Rs 3.50 billion

SCHWING Stetter India has acquired 53 acres of land near Chennai to set up a new unit with an investment of around Rs 3.50 billion in two phases.

The company is a 100 per cent subsidiary of SCHWINGWING GmBH.

The new manufacturing facility by one of India’s leading concrete equipment manufacturers will come at SIPCOT Industrial Area, Cheyyar, Tiruvannamalai district, Tamil Nadu, around 60 km away from their existing facilities.

According to Anand Sundaresan, Vice Chairman and Managing Director, SCHWING Stetter India, 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.

Image Credit : bsmedia.business-standard.com

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