OREANDA-NEWS. As India’s cities develop, the company is poised to supply locally produced, world-class mobility products equipped to deal with new heights, enhance sustainability, and provide energy efficiency.

Building on its strength of providing efficient mobility products for rapidly growing urban areas, ThyssenKrupp Elevator has lift-off on a new facility in India, where it will invest 44 million euro in a 20,000 sq.m. multi-purpose elevator manufacturing facility in the Chakan Industrial Area in Pune, Maharashtra. This facility will enable the company to cater to increasing demands from the local market, and is aligned with Prime Minister Narendra Modi’s ‘Make in India’ vision, aimed at promoting domestic manufacturing. ThyssenKrupp Elevator aims to complete the new facility in Pune in 2017 and achieve 95% manufacturing localization in the next 3 to 4 years. The facility’s initial capacity of 6,000 units per year will be extended to 10,000 units per year in FY 2019/20.

Andreas Schierenbeck, CEO of ThyssenKrupp Elevator, said, “India has ushered in a paradigm shift with its ambitious projects, 'Make in India' and '100 Smart Cities.’ Cities already contribute to a significant part of India’s GDP, and with the government focused on building smart cities, new housing complexes, airports, malls, railway stations and harbors, this share is projected to grow further. We are eager to participate in this growth by investing ahead of the curve and supporting the rapid urbanization in the country through locally manufactured, high-end technology engineering solutions, as well as the deep understanding of the market gained through ThyssenKrupp’s long-standing presence in the region.”

India has some of the fastest growing urban areas in the world and by 2020, the country will have 58 urban conglomerations. In big cities such as Mumbai, development is severely constricted by the lack of space, resulting in large-scale redevelopment of older properties into high-rise buildings, as well as new skyscraper constructions to house the ever-growing urban population. As efficient mobility is a key element in buildings that scale new heights, it is no surprise that India is also the fastest growing elevator market in the world.

ThyssenKrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Over 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2013/2014 ThyssenKrupp generated sales of around €41 billion.