Schneider will invest in the state

26 Apr 2023

French multinational Schneider Electric India (SEIPL), one of the global majors in automation, declared that it is setting up a unit in Bengal. The global leader in digital transformation of energy management and automation hosted the ground-breaking ceremony of its new manufacturing plant at Prospace Industrial Park on Thursday. This nine-acre facility will involve an investment of Rs 140 crore. An official said that SEIPL aims to accelerate and grow its capacity in producing products such as Vacuum Interrupters (VI) and strengthen its power systems vertical through this new factory, to be completed by February 2024. The manufacturing operations expected to start in the second quarter of the next financial year. Deepak Sharma, zone president-Greater India, Schneider Electric and MD and CEO SEIPL (Designate), said, "Today marks a momentous occasion for the Schneider Electric family. This upcoming world-class factory in Kolkata is aimed at accelerating our commitment to 'Make in India." Nitin Bakshi, vice-president, global supply chain-India, MEA, SAM & Pacific, Schneider Electric, said that the idea behind the development of this factory is to strengthen India's growing position as a global force in manufacturing and exports. "This upcoming factory will bind the power of India's talent and vision of self-reliance into a global phenomenon. It will export 50% of the peak volume capacity, meeting the need of customers in India and abroad," he added.