SKF to pump in Rs 270 cr in India

New Delhi, June 7 (UNI) Sweden-based SKF Group today said it will infuse Rs 270 crore to build a greenfield factory for manufacturing large size bearings in India.

The investment in the new facility will be carried out through SKF's wholly-owned subsidiary -- SKF Technologies India Pvt Ltd, said SKF President and Chief Executive Officer Tom Johnstone.

''The factory is expected to start operations in 2008,'' he said.

With this, the SKF Group will have five manufacturing units in the country.

The new facility will supply bearings in the domestic and international markets.

SKF had earlier inaugurated a factory for large size bearings in China and announced its plans of increasing its capacity for the large size bearings in its Swedish factory, in Goteborg.

There is a strong global demand for large size bearings in the sectors of wind energy, mining, steel and off-road applications.

UNI