Siemens VAI to set up new plant in India

Kolkata : Siemens VAI Metals Technologies, a world leader in technology for the iron and steel industry, will set up a new factory to make steel plant equipment in India. The 2.2-billion global major also hopes to rapidly increase its local headcount to 1,000 people and expand its service base in the country.

Werner Auer , CEO, Siemens VAI Metals Technologies said, "We are growing our base in India where the steel industry is on a growth path. We want to set up our own factory to make steel mill equipment at an investment of around 25 million." "We are looking for land in Bhilai and Vizag for this," he added. When it comes up this will be Siemens VAI's second manufacturing unit, the first of which is located near Mumbai

"Besides new construction business, we are now expecting stronger demand for modernisation and service, following the economic crisis. This will further optimise operating procedures and individual processes in the steelworks," Auer said.

Siemens VAI came into being after the 2006 merger of German major Siemens, and VAI, which stands for Voest Alpine Industrial of Austria . Both companies have a long history of association with India. Developed by VAI, the Linz-Donawitz (LD) process, now a standard oxygen steel-making process, was tried out in Rourkela in 1958.