Kolkata, Apr 18 (PTI) Vesuvius India Ltd, a part of the UK-based refractory maker Vesuvius Group, on Thursday said it plans to invest around Rs 1,000 crore in the country over the next few years.

Chief Executive of Vesuvius Group, Patrick Andre, said given the growth situation in India, the quantum of investments to be made in the country will reach close to Rs 1,000 crore within a few years.

Also Read | Lok Sabha Elections 2024 Phase 1: When Is Voting and Result? How To Vote, Check Name in Voter List? How To Find Polling Station? Know Everything Here.

The Kolkata-headquartered Vesuvius India also inaugurated a new mould flux manufacturing plant at Vishakapatnam. The facility is designed to meet the increased demand for flux, a vital component for the continuous casting process at steel plants, the company said in a release.

"India has always been a strategic market for the group. The manufacturing capabilities in India will enhance our competitive position in the country and also contribute to the socio-economic development of the communities where we operate,” said Biswadip Gupta, chairman of Vesuvius India.

Also Read | MHADA Maharashtra Lottery 2024: Know Eligibility Criteria, List of Required Documents and How To Apply Online at housing.mhada.gov.in.

The flux manufacturing plant in Visakhapatnam is the first of three new facilities expected to be operational in 2024.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)