XCMG China, one of the world’s largest construction machinery companies, in partnership with concrete machinery major Schwing Stetter India, will set up a new manufacturing facility in the South with an investment of $150 million. “The new facility will come up either near Chennai or another part of southern India. The technical team is evaluating products to be made here and a suitable location for the plant. The first modern and intelligent manufacturing facility will be ready by the year-end,” said Wang Min, group chairman of XCMG China. “We have been eyeing the robust Indian market for the past few years, because of the vast potential it possesses. Moreover, our strategic partnership with Schwing Stetter is extremely valuable to us at this key juncture. We will continue to sell traditional and existing machineries, develop and localise products for the Indian market,” Mr. Min said. Briefing reporters, Anand Sundaresan, Chairman, Schwing Stetter Sales and Services, said the new facility would manufacture construction and material-handling machinery, helping Schwing Stetter widen its product range. Initially, the products would be sold in the domestic market.
