Luxembourg Based VCL Group To Set Up Manufacturing Unit In Odisha

(MENAFN- KNN India) Bhubaneswar, Aug 1 (KNN) The Ambassador of Luxembourg to India, Peggy Frantzen inaugurated the corporate office of VCL India Pvt Ltd- the Indian arm of Luxembourg-based VCL Group in Bhubaneswar on Wednesday.

VXL Group i a leading European manufacturer of specialised valves and equipment for the global iron and steel industry.

Lauding Odisha is as one of the most investor-friendly states in India and highlighting its strong potential for industrial growth and international collaborations, Ambassador Frantzen noted that the century-old partnership between Luxembourg and India in the steel sector has been further strengthened by VCL's presence in the country, reported TNIE.

VCL India plans to expand operations in India by setting up a manufacturing facility in Odisha within the next two to three years.

Additional Chief Secretary of Industries and I&PR, Hemant Sharma, welcomed VCL's investment as part of the state government's efforts to attract more foreign direct investment (FDI). He emphasised Odisha's investor-friendly policies and its growing reputation as a global investment hub.

“This investment marks a deepening of India-Luxembourg economic ties and reinforces Odisha's status as a prime destination for global investors,” Sharma said.

Chairman of VCL SA and CEO of SAB Group, Mario Kratz, stated that setting up operations in Bhubaneswar reflects the company's aim to stay close to its customers and support Odisha's industrial ecosystem.

VCL India Director, Aswini Khuntia, said the company will bring its expertise in engineering and precision manufacturing to India.“We are committed to forging local partnerships and supporting Odisha's industrial development,” he added.

The event was attended by VCL's global head Rainer Zilliken, Luxembourg's consul in India Rajat Dalmia, and representatives from CII, FICCI, UCCI, and ASSOCHAM.

(KNN Bureau)

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