Mitsubishi Elevator sets up plant near Bengaluru for Indian market

Chennai, July 19 (IANS) Elevator maker Mitsubishi Elevator India Pvt Ltd will start serving the Indian market from its plant near Bengaluru from December onwards, said a top company official.

The company is a wholly owned subsidiary of Japan's Mitsubishi Electric Corporation.

Speaking to reporters here on Tuesday,Mitsubishi Elevator Managing Director Iwao Oda said the Rs 183 crore plant will make Nixien-Lite elevator model for the mid-rise buildings in the commercial, office, malls and residential segments.

The company has set up its 5,000 units per annum plant at Vemgal near Bengaluru in Karnataka. The plant will be Mitsubishi's 14th plant in the world.

Presently the company serves the Indian market - the second largest in the world for elevators after China - through imports.

By producing locally, Mitsubishi Elevator India expects to strength the product competitiveness in terms of price and cut down on delivery time.