In a bid to foray into the railway electronics business Stone India Ltd said on Thursday it is introducing various high value power electronic products for the Indian Railways and has also entered into a memorandum of understanding with Germany's SMA Technologie for the same.
The company has entered into an exclusive MoU with the German company to introduce inverters, converters and power supply systems for coaches, locomotives, EMUs (Electric Multiple Units) and Metros, it informed the Bombay Stock Exchange.
The estimated unit value for these systems range from Rs 5.5 to Rs 235 lakh, Stone India said.
The company added that it plans to build a new facility for manufacturing these high value products through a Technology Transfer Agreement with SMA Technologie.