New Delhi: Pune-based Kalyani Group on Sunday said Hyosung T&D India, a subsidiary of the South Korean major Hyosung Corp., will set up its greenfield manufacturing facility in Khed City near Pune.

“The company will produce high voltage gas insulated switch gears and related accessories using state of art technology for domestic markets and thus contributing in enhancement of the electrical transmission efficiency and reliability," Kalyani Group said in a statement.

It further said: “Hyosung has leased about 14 acres of land to set up its project and plan to go in production by June, 2016." Khed City, promoted by Khed Economic Infrastructure Ltd (KEIPL), is a joint venture between Maharashtra Industrial Development Corporation (MIDC) and companies of Kalyani Group.

MIDC holds 26% of the equity capital in KEIPL while 74% is held by Kalyani Group companies. Other companies who are already engaged in setting up their units at Khed city include MARS India Ltd, JSW MI Steel, Lenze Mechatronics, Linnhoff India, Hira Technologies, Maico Ventilation and several others.

“So far Khed city has been able to attract investments to the tune of over 1,000 crore the project is being developed as an integrated industrial park," the company said.