Kolkata/IBNS: Schneider Electrics new factory is all set to come up in Kolkatas Prospace Industrial Park Pvt Ltd at an investment of Rs 140 crore.
The company hosted the groundbreaking ceremony of its new manufacturing plant on Thursday.
Covering an area of 9 acres, this new facility is planned to be completed by February 2024.
Schneider Electric aims to accelerate and significantly grow its capacity in producing products such as Vacuum Interrupters (VI) and strengthen its power systems vertical through this new factory, the company said.
The manufacturing operations are expected to start in the second quarter of the next financial year.
Schneider Electrics MD and CEO SEIPL (Designate) Deepak Sharma said, Today marks a momentous occasion for the Schneider Electric family.
The new facility will enable economic development and job creation in the state, he stated.
Our efforts are aimed at cementing Indias position as a world leader in exports and manufacturing, he said.
Schneider Electric Global Vice President Supply Chain- India, MEA, SAM Pacific Nitin Bakshi added, This new facility will export 50% of the peak volume capacity, meeting the need of customers in India and across the world.
He said the companys new-age digital technologies will prove to be a game changer in the energy management industry for years to come.
In December 2022, we announced the consolidation of six of our existing factories to launch one of our largest smart factories, globally, in Bengaluru, the company said.
In Sept 2022, Schneider Electric had announced the groundbreaking of its new smart factory in Hyderabad which will be its second smart factory in the city.
Our existing smart factory in Hyderabad has been recognized as an Advanced Lighthouse by the World Economic Forum, the company said.
