Leoni, a Germany-based manufacturer of wires, optical fibres, cables and cable systems to industries, has begun manufacturing cables for the renewable energy sector at its new plant at Chakan near Pune.
The company started manufacturing standard cables for the auto industry at the beginning of 2013 and plans to install electron beam equipment by 2015 to manufacture the latest generation of cables for solar applications and high-speed trains, locomotives, trams, metros and cargo railcars.
“India promises attractive medium- and long-term growth prospects for several of our targeted industrial markets,” Klaus Probst, President and CEO of Leoni AG, said.
“Opening of this new plant at Chakan is an essential move to better serve local customers and to drive our globalisation in India and close-by countries.”
During this year, Leoni plans to invest around €11 million for the facilities and equipment and will have about 140 employees, he added.
The new facility will make cables for critical applications in oil & gas, petrochemicals, power plants, water treatment and other process industries and Leoni plans to export a major portion of such products.
This is the company’s second production site in India.