Investment of INR 140 Crores to Boost Production of Vacuum Interrupters and Strengthen Power Systems Vertical
Schneider Electric has hosted the groundbreaking ceremony of its new manufacturing plant at Prospace Industrial Park in Kolkata. The new facility will cover an area of 9 acres and involve an investment of INR 140 crores.
Schneider Electric aims to significantly increase its capacity in producing products such as Vacuum Interrupters (VI) and strengthen its power systems vertical through this new factory.
The facility is planned to be completed by February 2024, with the manufacturing operations expected to start in the second quarter of the next financial year.
Mr. Deepak Sharma, Zone President (Designate) – Greater India, Schneider Electric and MD and CEO SEIPL (Designate), said that this upcoming world-class factory in Kolkata is aimed at accelerating Schneider Electric’s commitment to “Make in India”.
The company will be investing approximately INR 140 crores for setting up this new facility, which will enable economic development and job creation in the state.
Nitin Bakshi, Vice President, Global Supply Chain- India, MEA, SAM & Pacific, Schneider Electric added that the new facility will export 50% of its peak volume capacity, meeting the needs of customers in India and across the world.
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Schneider Electric aims to strive for excellence in technology and sustainability to meet the dynamically changing needs of its customers and partners.
The company has previously announced the consolidation of six of its existing factories to launch one of its largest smart factories globally in Bengaluru and the groundbreaking of its new smart factory in Hyderabad.
The existing smart factory in Hyderabad has been recognized as an Advanced Lighthouse by the World Economic Forum.