Germany-based LAPP group manufacturing high flexibility cables announced investment of Rs 150 crore in the Rajgarh district of Madhya Pradesh for setting up a new unit. The company performed ground breaking ceremony for setting up a manufacturing unit at Pilukhedi in Rajgarh district under Bhopal division.

“India’s economy is thriving and I believe, it is the future market of the connectivity solutions industry,” Director of the company, Mr. Siegbert E Lapp told at the manufacturing site. The company has witnessed 30 per cent year-on-year growth in India which is one of its focused markets. The company expects its new facility here will help cater to the growing customer demand besides boosting its revenues many-fold.

The new facility spread over 30 acres will be second in India besides Bangalore where LAAP India’s corporate headquarter is also located. It will be home to three building units with an individual manufacturing apparatus in each. The Bhopal facility is projected to be the largest manufacturing unit of the Lapp Group in the next five years. The company’s Managing Director Mr. Srinivas P Kamisetty said, the company will initially employ 100 people and once fully functional it will give employment to nearly 400 persons, majority of them will be locals.