SKF India to invest Rs 150 cr in New Uttarakhand Plant
26 April 2007
SKF India, the leading technology and solutions provider of bearings, seals and related products, today announced that it would be investing over Rs 150 crores towards the development of a new manufacturing site in Haridwar, Uttarakhand.
Situated over an area of 40,000 sq.mtrs, the new bearing factory is likely to increase the existing ball bearing capacity by more than 1/3rd, fuelling the growing demand in the booming automotive and other key manufacturing sectors. The state of the art plant will be operational in March 2008 and is likely to employ over 300 people.
Commenting on the occasion Mr. Rakesh Makhija, Managing Director, SKF India. Ltd. said, “We are very positive about the economic development in the country. Uttarakhand is an emerging industrial hub within the country. SKF’s strategic move to increase production capacity through the Haridwar plant signifies our commitment not only to serve our customers effectively but also reinforces our leadership position in the Indian Subcontinent”.
News Source: http://www.moneycontrol.com
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