Schneider Electric invests Rs 300 crore to set up second factory in Telangana

Deccan Chronicle.  | dc correspondent

Business, Companies

Three-fourths of the production at the new factory will be used for exports. (DC Image)

HYDERABAD: Schneider Electric, the global leader in energy management and automation, on Thursday began the construction work for its second factory in Telangana. Spread over 18 acres, the upcoming unit at GMR Industrial Park in Hyderabad will be developed in two phases. The first phase with two lakh square feet is expected to be completed in September 2023. The new facility is expected to strengthen the company’s supply chain operations for exports.

“We will be investing over Rs 300 crores in this project, which will in turn create additional 1,000 jobs… We follow “India for India” and “India for Globe” strategy, manufacturing in India for local consumption and global exports to over 30 countries,” said Anil Chaudhry, zone president, India and CEO & MD Schneider Electric India Pvt. Ltd.

Three-fourths of the production at the new factory will be used for exports.

“This new facility — with 75 per cent export volume capacity — will strengthen our position as a reliable export hub for our global customers. Our manufacturing base expansion in Telangana will also amplify our contributions to the Make-In-India programme,” said Javed Ahmad, Sr. Vice President, Global Supply Chain, International Region, Schneider Electric.

The ground-breaking ceremony on Thursday was attended by state IT minister K.T. Rama Rao, Ambassador of France to India Emmanuel Lenain, and state IT secretary Jayesh Ranjan.

Speaking at the ceremony, Rama Rao said, “The upcoming smart factory will greatly contribute to the state’s economy, which is bolstering its position as a leading investment hotbed. With India rising as an economic powerhouse, the opportunities are huge.”