Grundfos Pumps India, a wholly-owned subsidiary of the Denmark-based Grundfos Holding A/s, is planning to expand its operations by setting up an additional unit in its existing complex here.
Addressing presspersons here, Carsten Bjerg, Group President and CEO, said the investment would be in the order of 30 million euro (Rs. 210 crore) in two phases.
“Our investment would be in new products and solutions. We would also add more staff in research and development which would support the India and global operations”, Mr. Carsten Bjerg said.
The plan was to reach a turnover to Rs. 1,000 crore in five years from Rs. 318 crore reported in the year ended December 2012, he said.
According to N. K. Ranganath, Managing Director, Grundfos Pumps India, the parent company, with 20 factories around the world, was considering India as its second home after Denmark.
Apart from meeting the demand from the domestic market, the products turned out from India facility were exported to Bangladesh, Bhutan and Maldives, Mr. Ranganath said.
The expanded facility would help meet the demands in the European and other global markets, he said.