Mumbai: Industrial solutions provider Atlas Copco will invest Rs 70 crore by this year-end to double its manufacturing capacity in Hyderabad.
The Swedish company, which is engaged in manufacturing of construction and mining equipment, makes rock drilling products at its Hyderabad facility.
“In line with the country’s ‘Make in India’ initiative, we intend to expand our manufacturing base here and contribute to its growth story. We have decided to invest Rs 70 crore to double our current facility,” its President and Chief Executive Officer Ronnie Leten said in a statement issued in Mumbai on Monday.
The plant will be fully operational by March 2017, he said.
“Atlas Copco is designing in India to meet the specific needs of its local customers. The expansion at the plant will generate employment for about 35 people,” he added.
Leten also said in the coming months, the Hyderabad plant will introduce new items such as rotary products for oil and gas application, products for hard metal mining, and innovative deep hole drilling machine to cater to Indian and African markets.
The company also launched three new locally produced compressors, Electric Portable Compressor, XRHS65 Compressor, and VSD — ranging from 7 kW to 37 kW — which will be manufactured at its facility in Pune.
The Group manufactures products like compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems.
PTI