A Swiss firm, Sotefin Bharat, the Indian arm of the Swiss automated car parking systems company Sotefin SA, has announced plans to invest approximately Rs 45 crore in setting up a manufacturing plant in West Bengal.

This investment will be carried out in two phases - Phase 1: Rs 25 crore, Phase 2: Rs 20 crore (expected to be completed in the next 1.5 years).

According to Jignesh Sanghavi, Director, Sotefin Bharat, the company aims to achieve a 100% indigenization level once the factory becomes fully operational, up from the current 80%. 

The decision to choose West Bengal is influenced by the availability of a significant skilled workforce and the company's existing office in Kolkata.

The key objective behind this move is to establish West Bengal as a global manufacturing hub for Sotefin's automated car parking systems. 

The plant will not only cater to the growing demand for these systems within India but also facilitate exports to international markets, including the US and UAE.