Schneider Electric to invest Rs 425 cr on smart factory in Bengaluru
Under the plan, the new factory will be expanded to 10 lakh square feet from the 5 lakh square feet.
plans to invest Rs 425 crore to develop a smart factory in Bengaluru.
"The new smart facility will consolidate 6 out of 10 existing factories of the company in Bengaluru, under one roof," Schneider Electric said in a statement.
Under the plan, the company will expand its industrial set-up from 5 lakh square feet to 10 lakh square feet.
The new smart factory will manufacture several products such as single phase UPS, three phase UPS, power distribution units, low voltage drives, digital energy products related to meters, pre-fabricated data centres, relays and renewable energy products, said the company.
The company will create over 1,000 job opportunities, taking the current headcount to 3,000. The upcoming smart factory will have 80% export volume capacity to export to 30 countries across the world.
"Our new manufacturing campus will be one of our largest smart factories, globally, to be based in India. It will contribute to the country's economic growth in coming years, while significantly contribute to make India Atmanirbhar," said Anil Chaudhry, Zone President - India and CEO & MD, Schneider Electric India Pvt Ltd.
Javed Ahmad, Senior Vice President, Global Supply Chain, International Region, Schneider Electric, said, “With a projected sale of over Rs 5,200 crore by 2026, this manufacturing base expansion in Karnataka will also amplify our investments in 4IR technologies (Fourth Industrial Revolution) to ensure operational efficiency and sustainability,”
(Details have been added to the PTI copy based on the company's statement.)
Edited by Swetha Kannan