As part of its continued growth in the country and to leverage India?s position as one of the best cost countries in its operations, Sandvik had recently announced a commitment to set up a world-class manufacturing facility at Chakan near Pune. Development of the site commenced with a ground-breaking ceremony held at the site. The facility will be operational by end of 2016. The company has made an initial investment of around Rs 275 crore towards the 53 acre plant. To develop the facility, the company will make strategic investments in a phased manner over the next five years. In the first tranche, it has announced a $45 million commitment to commence development of the site by mid-2015. The new world-class manufacturing facility will help the company further innovate and create solutions for India?s emerging needs under the visionary ?Make in India? initiative.