Veco BV, a manufacturer of micro-precision parts in the Netherlands, has rented over 1.40 lakh square feet of space to establish its manufacturing facility in Chakan, in Pune.
The company, which is a member of the Muon Group, has a long-term lease on the property with a total duration of 10 years, including a 9-year lock-in period. A total area of 20,000 sq. ft. is set aside for potential future expansion.
With electroforming as a crucial technology, Veco BV is the industry leader in producing microprocessors for sugar screening, commanding a market share of over 70%. Designed to be a replica of the company’s largest facility in the Netherlands, this manufacturing facility will meet the demands in India and export micro-precision equipment to other nations.
This will be a built-to-suit factory for the company, with a complete RCC structure based on the company’s requirements. As per the lease agreement, the monthly rentals for the space in Chakan MIDC phase II will see an escalation of 5% every year.
The business already has a small facility in Gujarat that it uses for export to important international destinations and tasks relating to its outsourced orders. Veco Precision India’s MD, Sandeep Khot has confirmed the lease agreement. The deal advisor was the global real estate advisory giant, JLL India.
According to Chandranath Dey, Head of Operations and Business Development, Logistics & Industrial, JLL India, “India’s competitive position in the global manufacturing landscape is witnessing a steady progress against the backdrop of the government’s proactive measures and initiatives, including reduced corporate tax regime for new manufacturing units, “Make in India,” and production-linked incentives.”
A renowned manufacturer recently leased a 7 lakh square foot location in Hosur, Tamil Nadu, for the construction of a toy manufacturing plant with an investment of Rs 500 crore. Following the government’s Make in India assistance campaign, we see a steady shift in the industrial sector in India. The nation is working hard to diversify its economy, and exports have grown. Infrastructure and technological developments interact with government policy initiatives and incentives, such as lower tax rates, exemptions, and subsidies.
With the expansion of the total logistics network and large-scale infrastructure development, manufacturing progress is speeding up even in smaller cities. This facilitates the trade and the transit of commodities.
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