Metso Corporation to set up engineering hubs in India
The company has invested more than Rs 800 crore in India so far
Equipment manufacturer Metso Corporation is setting up engineering hubs in India and internationalise manufacturing facilities here to cater to global demand.
The Finland-based firm, which is in India last 25 years, offers equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries.
"We are growing at a high rate in India across the business verticles that we are present in. We began our operations in India through exports and now we have been invested in the country to set up manufacturing facilities to cater to the local as well as international demand," company's president and CEO Pekka Vauramo said.
Metso has invested more than Rs 800 crore in India so far and in 2018 alone, it invested around Rs 560 crore to strengthen its operations in the country.
The company is expanding the capacities in India mainly encouraged by the kind of developments happening in the country in terms of taxation, augmentation of infrastructure and logistics, changing business rules, among others making it a favourable place to do business.
Recently, the company acquired RMEBS valve business, a part of the privately owned Rotex Group and plans to develop it to meet the international demand.
It is also setting up a 20,000 tonne capacity foundry in Vadodara and increasing the mineral equipment capacity of the Metso Park in Alwar by 35%.