Chennai, Jan. 16 -- Danfoss India on Friday said it is launching a joint venture, Danfoss PowerNEU Private Ltd, partnering with engineering firm PowerNEU.
Danfoss India said it is a first-of-its-kind joint venture designed to support India's metals and heavy industries through a locally embedded execution and solutions model.
The venture was formally inaugurated with a groundbreaking ceremony for a new manufacturing facility and office in Jamshedpur, Jharkhand, Danfoss India said.
Danfoss India did not disclose the shareholding pattern in the new joint venture or the outlay for the proposed plant.
Located in India's steel heartland, the Jamshedpur facility is positioned to serve major steel and metals producers across Jharkhand, Odisha,...