Sandvik has announced plans to set up a manufacturing facility at Chakan, near Pune.
The company will develop the facility in a phased manner over the next five years.
The Swedish industrial group will invest $45 million (approx. Rs 270 crore) in the first tranche. Development of the facility will commence in mid-2015 and it will become operational by 2016.
The Chakan facility will include products and solutions for metal cutting, mining and construction industries; high value-added products in advanced stainless steels, special alloys and titanium and metallic and ceramic resistance materials.
The 53 acre unit will also host Sandvik’s Group research and development centre in India.
Presently, Sandvik has five manufacturing units in India.
More Project Info:
Construction Equipments (Chakan) Project