By Priyanka Sahay
Helsinki, Oct 7 (IANS) Finland-based engineering and technology firm Metso Corporation's automation business arm has set up a research and development (R&D) centre in Mumbai to cater to India's booming infrastructure business.
"The new R&D centre gives us the possibility to be in closer contact with other Indian Metso functions and local customers. The cooperation will enhance our overall capabilities to serve Indian customers and have access to first hand experience of new products," said Mika Vanne, vice president of automation platforms R&D, Metso.
"The Mumbai R&D centre has started to participate in strategic Metso research and development projects right away, bringing an important view to our technology development," he added.
According to the company, setting up an R&D centre in a location such as India helps in factoring customer expectations from highly demanding markets, such as India. In 2010, Metso's India operations recorded net sales of 165 million euros ($220.44 million).
India is one of Metso's fastest growing markets. The build-up of infrastructure is a necessary corollary to economic development of India, the company feels. The company expects good business from emerging areas in India such as development of highways, ports and airports, power generation and real estate and commercial projects.
Metso's automation systems already have over 65 percent market share in the Indian power industry and its solutions have a key role in many power plants and process industries aiming to improve their energy efficiency and lower their environmental load significantly.
Also several Indian bagasse-based paper mill and largest fibre line using wheat straw as a raw material rely on Metso automation technologies.
A global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries, Metso currently has over 800 employees in India and about 29,000 across the world.
Last year in March, the company also inaugurated Metso Park in Alwar, Rajasthan with the objective of catering to meeting the demand for the products and services of its mining and construction technology in India and Metso's other rapidly growing markets in Asia Pacific.
When finished in 2012, the multifunctional premises with a total of 196,000 sq m land area will host workshops, offices, engineering, logistics and a training centre.