The hub in Mumbai will also support the global activities of the electrolysis specialist in the areas of engineering and project execution – especially in the Middle East, Asia, and Australia.
Mumbai will be thyssenkrupp nucera’s eighth location after Milan (Italy), Houston (USA), Riyadh (Saudi Arabia), Tokyo & Okayama (Japan), Shanghai (China), Perth (Australia), and the company headquarters in Dortmund (Germany). With around 30 employees at the start and more than 80 within three years, Mumbai will be one of thyssenkrupp nucera’s fastest growing international locations.
“We have a long history in India and close relationships with our customers here, now for more than 40 years,” said Vaidyanathan Nagarajan, Managing Director of thyssenkrupp nucera India Private Limited. “With our new location, we are strengthening our presence with our customers. It will enable us to respond even better to our customer’s various needs and demands. Mumbai is a logical choice as the economic center of the country.”
Citing another advantage of the new location, Dr. Arno Pfannschmidt, CFO of thyssenkrupp nucera AG & Co. KGaA and responsible for the India business, said: “India is the ideal expansion of our portfolio of locations for us. Skilled workforce available throughout India gives us even better access to talent and already experienced electrolysis specialists. Facing the background of the increasing shortage of skilled engineers, this is also an important factor.”
Speaking about the Indian electrolysis market, he added: “India’s location as a hub for the South Asian market, the good conditions for renewable power generation as an indispensable basis for green hydrogen, and the high demand for cost-efficient electrolysis technology make the Indian market so special. It plays a key role in realizing our growth ambitions in Asia.”
India is considered one of the future markets for electrolysis. In the chlor-alkali sector, thyssenkrupp nucera already has a leading market position there with a market share of more than 70%, which is to be further consolidated with the help of the new office. The development of the chlor-alkali market is closely linked to the positive development of India’s gross domestic product, and India is one of the most rapidly expanding economies in the world. According to estimates, the Indian economy could become the world’s third-largest economy by 2050, and even the second-largest by 2075.
In addition, India has great potential to produce green hydrogen on an industrial scale through alkaline water electrolysis. “At thyssenkrupp nucera India, we want to exploit this potential to develop the local market as a long-term complement to our chlor-alkali activities,” said Kiran Paul Joseph, Executive Director – Finance of thyssenkrupp nucera India.
