Japanese consumer durables company Hitachi Asia Ltd will set up two power equipment manufacturing units for super critical thermal power plants in India by 2012-end.
"We plan to set up two units in Tamil Nadu - one each for manufacturing boilers and turbine generators - through joint venture (JV) projects," Hitachi Asia chairman Yasunori Taga told Hindustan Times.
The JVs will invest $136.3 million (Rs 622 crore) in the boiler factory and $450 million (Rs 2,054 crore) for turbine generator unit. It targets producing 3 gigawatt of power a year in each unit, and capturing a market share of 30%.
At present, Hitachi has four plants in India: Ahmedabad (air conditioner), Bangalore (power tools), Kharagpur (construction & mining equipment) and Manesar (amorphous metals).
The company also plans to double its turnover to $2 billion in India by 2013 "through new ventures focussing on energy-efficient products and exports," the chairman said.
Hitachi plans to set up a research and development (R&D) unit in Bangalore in 2011-12.
"It will mainly deal with offshore development job in IT and work towards re-engineering the future market needs - resultantly there will be a rise in employment," Taga said.
Hitachi is bidding for a contract to supply hardware for the unique identification number (UID) project.
"Since UID project is a matter national security, we'll setup a plant for manufacturing data storage systems in India, if we get the contract," Taga said.