Swiss major Oerlikon, a hi-tech industrial group specialising in machine and plant engineering, will invest Rs 400 crore in a phased manner at its new manufacturing facility at Sanand in Gujarat in the next five years.
It will manufacture products under Oerlikon Graziano brands, including transmission synchronisers and full and final transmissions for high-end trucks, off-road applications and passenger cars, an official said here.
The company will primarily focus on making products used in agriculture and infrastructure sectors.
The 150-year-old company, which recently shifted the headquarters of its Drive Systems Segment to New Delhi, already has two plants in India at Greater Noida and Belgaum in Karnataka.
The combined turnover of the two plants is expected to be nearly Rs 960 crore this year, up from Rs 825 crore in 2012, Heriberto Diarte, Chief Executive Officer of the Segment, said here on Saturday.
He said Oerlikon, which also has manufacturing facilities in China, Europe and the US, may set up an engineering centre in India for the development of new products.
The Sanand plant, being set up over 30 acres, is expected to yield a turnover of Rs 1,000 crore per annum. It will create around 1,000 new jobs and its first phase will be commissioned by March 2015.
Oerlikon will export 50 per cent of its products manufactured at Sanand, company Director, Vivek Prakash, said. The company will invest a lot in training skilled workers and CSR activities.
Asked why Oerlikon chose to move its segment headquarters to New Delhi, Diarte said India is emerging as the company’s segment manufacturing hub where it will have more than 50 per cent of its global staff, at 3,500.