Italy-based Danieli, a conglomerate in building plant and equipment for the steel industry, has set up a manufacturing facility with an investment of R750 crore at Sri City in Chittoor district of Andhra Pradesh. It is the world?s third-largest supplier of plant and equipment to the metal industry.
The company hopes to employ about 750 people. It aims to supply a variety of stainless steel products required for industries including steel, car, gas and steam powered turbines and industrial bearings.
Ravindra Sannareddy, co-founder and MD, Sri City, said, ?About 37 firms are already operational, and 30 more are under construction. Together, they are expected to bring in an investment of over R12,500 crore in the next two to three years.?
Besides, France-based Alstom Transport, which markets a complete range of systems, equipment and services in the railway sector, has also committed an investment of R500 crore. The company is expected to roll out the first train set in 2014 to Chennai Metro.
Further, he said that three major units ? Cadbury?s, US, Isuzu, Japan and Pepsi, US ? have made a committed investment of R5,500 crore. Sri City currently has a land bank of nearly 7,500 acres, of which about 2,000 acres comprises SEZ. According to Sannareddy, the next phase of focus would be an auto component park and an electronics park.
