Knauf Group to invest additional €350 million in India, plans four new plants
German building materials company Knauf Group plans to invest an additional €350 million in India to set up four new manufacturing plants, Managing Partner Murat Akyildiz said after meeting Union Commerce and Industry Minister Piyush Goyal.
Knauf Group, a German building materials company, has announced plans to invest an additional €350 million in India and construct four new plants, according to its Managing Partner Murat Akyildiz. The investment follows a meeting with Union Minister of Commerce and Industry Piyush Goyal. Knauf currently operates two plants in India and is confident in the country's business environment and Prime Minister Narendra Modi's vision of "Make in India" and "Vocal for Local".
The first new plant, an €80 million investment, will be established in Gujarat. Akyildiz stated that the land and machinery for this plant are already prepared. The meeting with Goyal was described as positive, with Knauf expressing confidence that the project will move forward swiftly. Akyildiz highlighted India as an attractive investment destination, emphasizing that the development demonstrates the country's readiness to engage in business.
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