Italy-based Danieli Group, the world’s third largest supplier of equipment and plants to the steel industry, is setting up a manufacturing facility at Sri City special economic zone (SEZ) in Chittoor district, Andhra Pradesh, SE India.
Danieli will invest €100M in two phases of €50M each. The first phase should be completed in April 2012 and work on the second phase will begin in early 2013.
Sri City SEZ is strategically located 55km from Chennai along the National Highway 5. The Company says it is one-stop shop for steel manufacturing companies
Danieli have been supplying equipment to Indian plants for the past 10 years including to Tata Group, SAIL and Jindal Group. Danieli say by manufacturing in India products will be cheaper and therefore, more competitive for customers.
Danieli with HQ and its main workshop in Buttrio, northern Italy also a manufacturing facilities in Germany, Austria, Thailand and Sweden (one each) and two plants in China at Beijing and Changshu.