Hyosung India to set up manufacturing facility in Khed City.
Hyosung T&D India Private limited a subsidiary of the South Korean major Hyosung Corporation has selectively zeroed on Khed City near Pune, Maharashtra to set up its green-field manufacturing facility in India adhering to India Governments new national program Make in India.
The company will produce high voltage gas insulated switchgears and related accessories using state of art technology for domestic markets & thus contributing in enhancement of the electrical transmission efficiency and reliability. Hyosung has leased about 14 acres of land to set up its project and plan to go in production by June, 2016.
Khed City has been promoted by Khed Economic Infrastructure Limited (KEIPL), a joint venture between Maharashtra Industrial Development Corporation (MIDC) and companies of the Pune based Kalyani Group. MIDC holds 26 per cent of the equity capital in KEIPL while 74 per cent is held by Kalyani Group companies. The project is being developed on 1705 ha of land which is in KEIPL’s possession.
Hyosung has chosen Khed City as the most suitable location for establishing its facility as it offered a quick start up opportunity in terms of encumbrance free land, connectivity from all important logistic points, excellent infrastructure at project site, availability of power, water, effluent treatment facilities, trained and skilled manpower etc. Khed city holds environment clearance from Ministry of Environment, Forest and Climate Change, Government of India and therefore is in a unique position to provide investors with a “plug and play” opportunity to set up their manufacturing facilities.
Government of India’s “Make in India” and “Ease of doing Business” initiatives coupled with the State government’s strong “Make in Maharashtra” pitch have contributed in Khed city gradually witnessing increased economic activity. There is marked step up in construction activity which is manifest in the presence of large number of ready mix and batch mixing cement plants, bitumen pre mix plants, cement pre casting units etc. on the project site. In addition communication facilities in the area are fast being established as is evidenced from a growing number of mobile towers being set up by various cellular service providers. Clearly the eco system being created in Khed city promises to make it a prominent manufacturing destination in Maharashtra.
Some of the major companies who are already engaged in setting up their units at Khed city include MARS India Limited, JSW MI Steel, Lenze Mechatronics, Linnhoff India, Hira Technologies, Maico Ventilation and several others. All these units will contribute in providing entrepreneurial and employment opportunities to the local population.
So far Khed city has been able to attract investments to the tune of over Rs. 1000 crores The project is being developed as an integrated industrial park. Local people from the villages of Nimgaon, Dawdi, Kendur and Kanersar from where the project area was acquired have significantly benefitted from development works and opportunities that have been allocated to them by units that are setting up their facilities in Khed city. With investor interest continuing to grow, the local population has much to gain as project development gathers more steam.
Hyosung T&D’s choice of Khed city for its manufacturing facility is an indication of the project emerging as a preferred destination for manufacturing investments. Another US based multinational MARS is already in advanced stages of constructing what will be the largest chocolate manufacturing facility in Asia. With several other global and domestic companies choosing to locate their facilities in Khed city the project is poised to catalyse large investments in Maharashtra and become an entrepreneurial and employment generating hub in the state.