New Delhi, Apr 22 (KNN) Vesuvius India Ltd, a subsidiary of the UK-based refractory maker Vesuvius Group, has unveiled ambitious expansion plans involving an investment of around Rs 1,000 crore in the country over the next few years.

This significant investment commitment underscores the company's confidence in the growth prospects of the Indian market.

Patrick Andre, Chief Executive Officer, Vesuvius Group, highlighted the promising growth scenario in India, stating that the quantum of investments to be made in the country will reach close to Rs 1,000 crore within a few years.

Biswadip Gupta, Chairman, Vesuvius India, emphasised the strategic importance of the Indian market for the group.

He said, "India has always been a strategic market for the group. The manufacturing capabilities in India will enhance our competitive position in the country and also contribute to the socio-economic development of the communities where we operate."

As part of its expansion strategy, Vesuvius India has announced the establishment of three new facilities, with the first being a flux manufacturing plant in Visakhapatnam.

This plant is expected to commence operations in 2024, marking a significant milestone in the company's growth trajectory in India.

(KNN Bureau)