Schneider Electric on Thursday said it plans to invest Rs 425 crore to develop a new smart factory in Bengaluru.
"The new smart facility will consolidate 6 out of 10 existing factories of the company in Bengaluru, under one roof," Schneider Electric said in a statement.
Under the plan, the new factory will be expanded to 10 lakh square feet from the current 5 lakh square feet.
"Our new manufacturing campus will be one of our largest smart factories, globally, to be based in India. It will contribute to the country's economic growth in coming years, while significantly contribute to make India Atmanirbhar," Anil Chaudhry, Zone President - India and CEO & MD of Schneider Electric India Pvt. Ltd., said.
The new factory will manufacture a large scope of products from single phase UPS, three-phase UPS, power distribution units, low voltage drives to digital energy products related to meters, pre-fabricated data centres, relays and renewable energy products.
The expansion will also create over 1,000 jobs, taking the headcount to 3,000, the statement added.
According to the company, the upcoming unit will also have 80 per cent export volume capacity to customers in 30 countries across the world.
The proposed facility will be a union of three different kinds of manufacturing capabilities -- electronics PCBA, electronics products, and electronics systems.
"With a projected sale of over Rs 5,200 crore by 2026, this manufacturing base expansion in Karnataka will also amplify our investments in 4IR technologies to ensure operational, efficiency, and sustainability", Javed Ahmad, Senior Vice President - Global Supply Chain (International Region) at Schneider Electric, said.
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