Schindler India set to invest ` 170 crore to expand its manufacturing facilities by setting up India’s first escalator manufacturing line and towards improving its research and development facilities at its plant near Chakan in Pune.
Schindler India plans to expand its elevator line to produce a capacity of around 17,500 units and its escalator line to 1,200 units per annum by 2019. Under the government’s ‘Make in India’ initiative, Schindler has already made an investment of ` 430 crore towards setting up a factory, an R&D centre that boasts a 71-metre tall tower with 8 shafts where each and every component of the elevator undergoes strenuous testing. Schindler India’s ` 170 crore investment is part of the total ` 600 crore outlay over a period of six years which employs more than 1,000 people at any point of time in Maharashtra.
Commenting on the announcement, Uday Kulkarni, President, Schindler India and South East Asia said, “The elevator and escalator market is expected to grow at 8 per cent in the current fiscal and at Schindler India it is our aim to grow faster than market. In the last 10 years our turnover has grown from ` 300 crore to ` 1,600 crore. With the ` 170 crore investment we aim to further the quality of our services and work towards becoming a preferred vendor to our customers.”