Hyosung T&D to set up green-field manufacturing unit near Pune

PUNE: Hyosung T&D India, a subsidiary of the South Korean major Hyosung Corporation has decided to set up its India green-field manufacturing unit in Khed city near Pune in line with the Indian Government’s Make in India program. Hyosung will produce high voltage gas insulated switchgears and related accessories using state of art technology for domestic markets, with a view to contribute to the enhancement of 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 joins other companies like MARS India, JSW MI Steel, Lenze Mechatronics, Linnhoff India and Hira Technologies who are in the process of setting up units at that location. Khed city has so far attracted investments of up to Rs 1000 crore, said the company.