StarragHeckert Holding AG, a leading Swiss company, is setting up a machine tool manufacturing unit in India at an investment of around Rs 153 crore.
The firm has set up a wholly-owned Indian subsidiary, StarragHeckert Machine Tools Ltd, through which it plans to foray in two phases. In phase-I it will invest Rs 29.7 crore, and in phase-II the investment will be Rs 124 crore.
Among the three locations shortlisted—Bangalore, Pune, Chennai—the company will finalise the location within three months. The firm will set up an assembly and manufacturing unit and a world-class machinery facility in due course. It will import kits in SKD (semi-knocked down) and CKD (completely knocked down) conditions and gradually scale up manufacturing.
Source : www.projectscommunity.com
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