SKF India to set up Rs 150 cr plant in Uttarakhand

New Delhi, Apr 29: SKF India Ltd has announced an investment of over Rs 150 crore towards the development of a new manufacturing site in Haridwar, Uttarakhand.

The facility will produce ball bearing and would be spread over an area of 40,000 sq mtrs.

''The new unit is likely to increase the production of ball bearing to cater to the growing demand in the booming automotive and other key manufacturing sectors,'' a statement said.

The plant will be operational in March next year and is likely to provide employment to over 300 people.

''SKF's strategic move to increase production capacity through the Haridwar plant signifies our commitment not only to serve our customers effectively but also reinforces our leadership position in the Indian Subcontinent,'' said SKF India Managing Director Rakesh Makhija.

UNI