DN Solutions to build plant, R&D center in India

DN Solutions, the world's third-largest and South Korea's top machine tool manufacturer, said on Tuesday that it will establish a new plant and research and development (R&D) center in Bengaluru, India.

The company signed a memorandum of understanding (MOU) with the state of Karnataka, where Bengaluru is located. 

The 100,000-square-meter factory will be built in an industrial complex near Bengaluru and is expected to be completed by 2026.

It will be DN Solutions' second overseas production base after China's Yantai plant since 2004.

The initial investment for the factory and R&D center will exceed 100 billion won ($72.07 million) by 2030, marking the company's largest overseas investment since joining the DN Group in 2022.

Strategically located near Chennai, a hub for South Korean companies, Bengaluru boasts a well-developed manufacturing supply chain and houses roughly a quarter of India's machine tool firms.

The new factory will establish a three-country production network for DN Solutions, alongside existing plants in Namsan, Seongju (South Korea), and Yantai (China).

This investment aims to solidify DN Solutions' position in the fast-growing Indian market and enhance its competitiveness.

Write to Mi-Kyoung Lee at capital@hankyung.com