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Danish firm to set up steel parts EOU in B'lore
By siliconindia staff writer
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Thursday, 12 February 2004, 20:30 IST
BANGALORE: Three Danish companies, Jensen, Rool and ECM, have joined hands to set up a 100% EOU in Bangalore with an investment of $12.4 million in the first phase, reports Economic Times. The unit, which will make stainless steel sub-components for hitech dairy machinery and wind mills, will come up at Bommasandra, near here.
The project will employ 150 people in the first phase and is expected to commence production in August. The second phase will involve an investment of another $12 million and the staff strength will be doubled. Danish trade commissioner Jacob Andersen told ET, I am impressed by the quick single-window clearance given to this project by the government of Karnataka. If such a business environment persists, more investments will flow from Denmark to India. The project involves welding and stamping operations, for which labour costs are high and trained manpower is dwindling in Denmark. We have found that it is cheaper to outsource such work to India. The companies will interact with local technical schools for manpower training, he added. These components would, he said, compete directly in the European market with components made in Poland and Czechoslovakia.