DN Solutions Plans Investment of Rs.600 Crore to Build New R&D Center in Bangalore
DN Solutions eyes on Bangalore, India to land a new plant and research and development center with an investment of more than Rs 600 crore.
Having ingrained itself as a major international brand for machine tools in India, DN Solutions’ CEO, Wonjong Kim, recently met with S. Selvakumar, the Principal Secretary of Industries for Karnataka, India.
During a formal meeting at the Lotte Hotel Seoul in South Korea, the investment deal was agreed upon through a Memorandum of Understanding (MoU).
As the Memorandum of Understanding reads, DN Solutions has set aside Rs 600 crore which will go into the building of a new manufacturing facility and research hub in Bangalore by 2030.
On the Karnataka government’s side, it has given its word to supply required administrative assistance, such as licenses and rewards.
By taking into account calculated risk, DN Solutions aims to improve accessibility to its premium products in India, expedite order fulfillment, and better serve the unique requirements of its Indian clientele.
Prominent dignitaries such as M. B. Patil, the Minister of Large and Medium Scale Industries and Infrastructure Development for Karnataka, Amit Kumar, the Ambassador to Seoul, and Ramesh Vishwanath Iyer, the President of the Indian Chamber of Commerce (ICCK) in Korea, attended the signing of the Memorandum of Understanding.
The new plant is anticipated to be operational by 2026 and is situated in an industrial park close to Bangalore, on a property measuring roughly 100,000 square meters.
DN Solutions marked its starting point of its operations in India in 2008 by opening a technical facility in Bangalore.
Till date, the company has garnered massive positive response especially since the release of the SVM 4100i machining center earlier this year, which was designed specifically for the local market.