Hyosung T&D India, a subsidiary of the South Korean major Hyosung Corporation, has selected Khed City near Pune, Maharashtra to set up its green-field manufacturing facility in India adhering to Indian Government’s new national program Make in India. The company will produce high voltage gas insulated switchgears and related accessories using state of the art technology for domestic markets and thus contributing in enhancement of the electrical transmission efficiency and reliability.
Hyosung has leased about 14 acres of land to set up its project and plan to go in production by June, 2016. Khed City has been promoted by Khed Economic Infrastructure Limited (KEIPL), a joint venture between Maharashtra Industrial Development Corporation (MIDC) and companies of the Pune based Kalyani Group. MIDC holds 26 per cent of the equity capital in KEIPL while 74 per cent is held by Kalyani Group companies.
Hyosung has chosen Khed City as the most suitable location for establishing its facility as it offered a quick start up opportunity in terms of encumbrance free land, connectivity from all important logistic points, excellent infrastructure at project site, availability of power, water, effluent treatment facilities, trained and skilled manpower. Khed city holds environment clearance from Ministry of Environment, Forest and Climate Change, Government of India and therefore is in a unique position to provide investors with a “plug and play” opportunity to set up their manufacturing facilities.