Khed City, Pune, August 29, 2023
Hyundai Engineering Plastics India Pvt. Ltd, HDC Group company, has made a strategic decision to establish its latest manufacturing facility in the state of Maharashtra at Khed City Industrial Park in Pune Region.
In an event held on the 29th of August 2023 at the Khed City office, respected dignitaries and stakeholders from both esteemed organizations signed a Memorandum of Understanding (MoU) to mark and solidify their commitment to this partnership. This announcement marks a significant milestone for both Hyundai EP India and Khed City.
In an affirmation to this, the Agreement for Sub-Lease was also executed and registered between Hyundai EP India and Khed Economic Structure Pvt. Ltd. On the 5th of October 2023.
With this, Hyundai EP in Khed City is expected to catalyse their business growth, enhance its production capabilities in India, contributing to the burgeoning automotive sector, by investing about 100 Cr. over 9 acres of land at Khed City with an estimated employment generation of 50 -100 no.
Mr. B.H. Kim, Managing Director of Hyundai EP India, commended the seamless land allotment and handover process, stating, “We are delighted to have chosen Khed City for our new manufacturing setup. The efficiency and professionalism displayed during the land allotment process were commendable, and we believe that this partnership will be instrumental in propelling Hyundai EP India’s growth to new heights.”
‘’Pune is recognized as a hub for prominent automotive OEMs, and Khed City ‘’has solidified its position as the preferred destination for tier 1 and tier 2 suppliers to these OEMs,” noted Mr. Kim. “With our presence in Khed City, we aim to leverage the existing ecosystem to drive innovation and efficiency in our manufacturing processes.”
Mr. M V Krishna, Chief Executive Officer, Khed City, expressed excitement about this collaboration, stating, “We are thrilled to welcome Hyundai EP India to Khed City. Their decision to choose Khed City over other locations in Pune is truly a testament to the strength of Khed City’s offerings and contribution towards the automotive industry of Pune. The synergy between Hyundai EP India’s expertise and Khed City’s robust infrastructure is poised to create a transformative impact, further establishing Khed City as a preferred destination for automotive manufacturing.”
“We are confident that Hyundai EP India’s presence will further enrich the automotive landscape in Khed City and thereby contribute to the overall growth of the region,” added Mr. Krishna.
Khed City, situated about 50 KM north of Pune, is a joint venture between The Kalyani Group and Maharashtra Industrial Development Corporation (MIDC) and is developed by Khed Economic Infrastructure Pvt. Ltd. (KEIPL). Khed City is 4,200 acres of integrated development comprising Domestic Industrial Parks (DTAs), Special Economic Zone (SEZ) along with essential support services areas.
Khed City is well connected by road networks and has access to two seaports and two international airports of Mumbai and Pune. It is strategically located in the midst of major MIDC’s industrial parks in Pune such as Chakan, Talegaon & Ranjangaon. Khed City is already home to various domestic and multinational companies, including Mars International India Pvt. Ltd. (USA), JSW-MI (Japan), Hyosung T & D Ltd., AutoGen, Aju Tech (South Korea), Ardent Maschinfabrik, Lenze, Gedia (Germany) Hira, Maico Ventilation, (UAE), Amul, Kalyani Group (India), Maxion Wheels (Brazil), Pella & Carta, ADR Axles (Italy), and Aberdare Technologies, formerly Hengtong, Zoomlion (China).
Khed City has so far attracted investments from various industrial houses for more than Rs. 4,000 Crores with potential employment generation of about 7,500 no.