German elevator maker to set up local plant as Modi’s reforms boost urbanization

15-Oct-2015 #MakeInIndia Source: Nikkiei Asia

Germany’s ThyssenKrupp Elevator has decided to set up a facility in the Chakan industrial area in the western Indian city of Pune to manufacture elevators by investing $50 million in lines with Make in India. The company plans to complete the new facility in the second quarter of 2017 and targets to meet 95 per cent of its demand via local production in the next 3-4 years.

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