ThyssenKrupp-01ThyssenKrupp Elevator, a part of diversified industrial group ThyssenKrupp AG, announced it will set up a state-of-the-art multipurpose manufacturing plant in the Chakan Industrial Area in Pune, Maharashtra, with an investment of Rs.300 crore. The foundation stone for the new factory was laid on October 13, 2015 and completion is expected by the second quarter of 2017. Addressing the media at a recent press conference in Mumbai, Bharat Vishnani, Managing Director, ThyssenKrupp Elevator India, said that the new unit will have manufacturing localization of 85 per cent by 2018, moving up to 95 per cent by around 2020.

The facility’s initial capacity of 6,000 units per year will go up to 10,000 units in FY20. In addition, the company will establish a SEED Campus (ThyssenKrupp Elevator’s training academy) on-site to improve service efficiency in the field.

According to Dr. Michael Thiemann, CEO, ThyssenKrupp India said, “India has ushered in a paradigm shift with its ambitious vision, ‘Make in India’, to boost the local manufacturing sector and uplift the economy. We are eager to participate in this growth by investing ahead of the curve and support the rapid urbanisation in the country through locally manufactured, high-end technology engineering solutions.” On the Chakan plant, Dr Thiemann highlighted that the unit will also serve as an export hub catering to neighbouring countries and the MENA region. Exports can balance the volatilities of the local market, he observed.

Commenting on the new facility, Bharat Vishnani, Managing Director of ThyssenKrupp Elevator India, said, “With the government focused on building 100 Smart Cities, including new housing complexes, airports, malls, railway stations, and harbours, we are expecting to see a significant increase in demand for mobility solutions in India. Through our expertise in smart mobility products and long-standing presence in India, ThyssenKrupp is perfectly poised to support this aspect of India’s growth story.”

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