Mitsubishi to invest Rs 180 crores to set up a factory in Bangalore

Mitsubishi Electric Corporation's Indian arm, Mitsubishi Elevator India will build a factory to produce elevators and escalators in Bangalore.

The factory will be in operation from July 2016 and will have production capacity of 5,000 units annually.

This move by Prime Minister Narendra Modi is considered to be giving momentum to his vision for 'Make in India'.

The company is going to invest around Rs 180 crores to set up the factory in Bangalore.

By producing locally, Mitsubishi Electric expects to strengthen product competetiveness in terms of price and delivery time. It is going to focus especially on it NEXIEZ-LITE model.

A special emphasis will be placed on the efficient integration of sales, manufacturing, installation and maintenance.

The factory will have an elevator test tower which will be approximately 41 meters high and a field training center will be set up for installation and maintenance work in the factory premises.

The site will be spread across 89,000 square meters of land with floor space of 26,400 square meters.

Mitsubishi is a well known brand Global Leader in electric and electronic equipment for residential, commercial and industrial use.