The power transmission sector-focused Italian company Bonfiglioli Riduttori S.p.A on Tuesday said it has invested Rs 100 crore to build an assembly facility in Pune.
The company's Indian unit called Bonfiglioli Transmissions, which has invested in the assembly line spread over 42,500 square metres, said it is aiming to grow its topline by over 15% in FY24.
It is aiming for a revenue of Rs 1,650 crore in the current fiscal, up from Rs 1,428 crore in the year-ago period, according to a statement.
Almost 80% of the newly opened plant, which features high-tech and real-time smart assembly operations, is powered by solar energy, it said.
Through the newly opened facility, the company said it is aiming to serve discrete manufacturing and process sector clients in western India better.
"The western region represents a high growth market, and we are expanding our assembly facility in Pune to meet the needs of the evolving market," Bonfiglioli Transmissions Country Manager Kennady V Kaippally said.
He said it will be serving companies in the food, packaging, cement, steel, pharmaceutical, textile, material handling, sugar, power generation, paper and water treatment sectors.
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