SKF India, a leading technology and solutions provider of bearings, seals and related products, has announced commencement of construction work at the new manufacturing site in Haridwar, Uttarakhand. The state-of-the-art SKF project will be operational by January next.
The company will be investing Rs. 1,500 million in this project and plans to employ more than 200 people. The plant will specifically cater to the automotive market segment in India.
Situated over an area of 10 acres, the new bearing factory, with a production capacity of 40 million bearings, will manufacture deep groove ball bearings to cater to the demands of both the automotive and manufacturing sectors.
Commenting on the occasion, Mr. Rakesh Makhija, Managing Director, SKF India Ltd., said: “The last few months have been challenging for the economy. As a company we continue to be very positive on the Indian market. This expansion is yet one more step towards demonstrating SKF’s commitment to being a market leader. Uttarakhand is an emerging industrial hub in the country. SKF’s strategic move to increase production capacity through the Haridwar plant signifies our commitment to serve customers effectively and will allow SKF to further increase its share in the developing two-wheeler and automotive market.”
