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NYSE-listed Belden will commence its second phase of investment at the Chakan plant near Pune with the global signal and transmission management company investing an additional ₹110 crore.
The company has already invested about ₹140 crore in the first phase that was completed in September this year.
The US-based company is investing a total of ₹250 crore at Chakan, where it is setting up its first manufacturing plant in the country.
“The investments will be completed by 2019, and by then I expect this plant to have a total output of about ₹150 crore. After the second phase of investment, we will ramp up our revenues to ₹450-500 crore,” said Ashish Chand, Managing Director of Asia Pacific Belden.
The company’s production started in September, and its sales in India now stands at ₹250 crore.
At the unit, the company will manufacture all its products such as cables for industrial and building automation, Ethernet switches, optical fibre, copper connectivity and broadband products among others.
The project, when at its full capacity in 2019, will employ more than 300 people.
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