Diversified German industrial group Thyssenkrupp has opened a multi-purpose manufacturing facility in Pune's Chakan Industrial Area for the elevator industry, which includes a distribution centre and training facilities.
The company has invested Rs300 crore (€44 million) in the new 20,000 sq m industrial facility, which is designed for an initial capacity of 6,000 elevator units, extendable to 10,000 in the course of the next two years.
Thyssenkrupp said it has set a 95-per cent manufacturing localisation target and that the Pune factory will enable the company to significantly expand in the region and support the increasing growth of the Indian construction sector.
Thyssenkrupp also announced plans to launch a new seed campus training centre for field technicians, which will support development of local skills and knowledge in line with the Indian government's skilling programs.
''The Indian elevator market is of significant importance to Thyssenkrupp. The consistent growth of India's realty sector has been gaining attention worldwide and Thyssenkrupp is perfectly poised to support this market growth. The decision to develop the new state-of-the art manufacturing facility of global standards is a step forward in that direction.'' Oliver Burkhard, member of the executive board and chief human resources officer of Thyssenkrupp AG, said.
''The urban population in India is one of the fastest growing in the world. About 30 per cent of citizens currently live in urban areas, and this is expected to reach 40 per cent by 2030. The government is focused on building new housing complexes, airports, malls, railway stations and harbors,'' Ravi Kirpalani, CEO of Thyssenkrupp India, said.
''We are delighted that our new local manufacturing site will better enable us to support this. With the addition of the new Multi-Purpose Facility to the Chakan Industrial Area, Thyssenkrupp is poised to play an important role both in supporting the development of the local area, and contributing to wider Indian goals of sustainable and efficient urbanized growth,'' he added.
By 2020, India is forecast to have 58 urban conglomerations and two of the world's 20 global megacities (New Delhi and Mumbai). Construction is being driven by both new skyscrapers and large-scale redevelopment of existing properties, both in the ambition to support continued population growth across the country's urban landscapes.
With efficient mobility being a key concern in this renewed city space, it is no surprise that India is the fastest growing elevator market in the world, the company stated in a release.