New Delhi, Nov 13 (UNI) SKF India Ltd, technology and solutions provider of bearings, today said it will invest Rs 450 crore to establish manufacturing units in the country at Ahmedabad and Hardwar.
''We invest Rs 450 crore for establishing two manufacturing facilities in the country, of which Rs 300 crores will be for the Ahmedabad unit whereas the Hardwar unit is expected to cost us around Rs 150 crores,'' AB SKF President and CEO Tom Johnstone told reporters here.
The company has two manufacturing plants in Bangalore and one in Pune.
The Ahmedabad facility, to be operational by the second quarter of next year, will be primarily focussed on manufacturing of industrial bearings.
It plans to use this facility for supplying mainshift bearings to Suzlon with which it has entered into a five-and-a-half-year contract worth 303 million euros.
However, the company has delayed the commissioning of its Hardwar manufacturing facility for automotive bearing due to weakening demand.
Earlier, the construction at the plant was scheduled to start by this year-end.
''We have decided to postpone work at the Hardwar plant due to a slowdown in market demand. We expect to start work at the plant in the first quarter of 2010. We feel that the current market demand can be met with our facilities in Bangalore and Pune,'' Mr Johnstone said.
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