Rs 425 crore investment planned by Schneider Electric
French multinational company, Schneider Electric has plans to invest Rs 425 crore to create a new smart factory and to consolidate 6 of its existing factories under one campus in Bengaluru. The investment would be made in the next 12 to 18 months. The company has taken 55 acres of land on lease for 10 years which will be renewed every 10 years for the project.
In a statement, the firm said the investment would increase its production capacity from a current industrial setup of 5,00,000 sq ft to 1 million sq ft.