According to an investor presentation, SKF India has announced plans to invest up to Rs 1,460 crore by 2030 to enhance its manufacturing capabilities across critical facilities, catering to both industrial and automotive sectors.

The company has designated a capital expenditure of Rs 1,210 crore to Rs 1,460 crore to augment production capacity at its facilities in Haridwar, Pune, and Bangalore.

As part of this strategic initiative, SKF India plans to allocate Rs 800 crore to Rs 950 crore over the next five years to expand its industrial business.

This expansion includes strengthening distribution channels to accommodate increasing domestic demand and establishing a new manufacturing facility in Pune, with an anticipated operational commencement by 2028.

This encompasses an investment of Rs 350 crore to Rs 450 crore for channel expansion and Rs 450 crore to Rs 500 crore.

In the automotive sector, the company intends to invest Rs 410 crore to Rs 510 crore by 2030, focusing on capacity expansion for the production of bearings for two-wheelers, electric vehicle (EV) powertrains, and wheel-end bearings for both passenger and commercial vehicles.