Hitachi to set up two plants in TN
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.business Updated: Feb 10, 2011 20:47 IST
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.