Siemens AG plans to make India its global hub for manufacturing key steel plant equipment. The Kolkata-headquartered, Rs 1,700-crore Siemens VAI Metal Technologies — the steel technology arm of the multinational — has been designated to manufacture five products — ladle furnace, vacuum degasser, billet caster, small and medium capacity sinter plant and blast furnace — for global clientele. Three more products —electric arc furnace, converter car and wet de-duster — are also in the pipeline for manufacture in India.
Siemens VAI plans to set up its second unit in the country to suit the new strategy. The existing facility of earlier acquired Morgan Construction Company at Thane in Maharashtra is being relocated to Turbey near Mumbai in tune with the new focus. The company is scouting for land in Bhillai, Visakhapatnam, Nasik and Kharagpur to locate the second plant.
Siemens VAI has made an investment of around €40 million and another €40 million is on the cards.
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