ABB to invest Rs 250 cr on new plants
Apr 17 2012, 11:24 | By Moneycontrol.com
The manufacturing plants will be set up at Savli near Vadodra in Gujarat.
Image: ABB India
Power equipment maker ABB will invest around Rs 250 crore to build new plants to manufacture high-voltage power products and transformers in India.
The expansion is part of the company's strategy to develop, manufacture and market products that meet needs of Indian customers as well as serve as an export hub, ABB said on Monday.
The manufacturing plants will be set up at Savli near Vadodra in Gujarat and produce high-voltage gas-insulated switchgear, and plug and switch system (PASS) hybrid switchgear, as well as dry-type and oil immersed distribution transformers, it said.
"The new manufacturing units will further strengthen our local footprint and enhance our product portfolio," said Pitamber Shivnani, local division manager, power products, in India.
The new manufacturing plants are expected to be operational by the end of 2012, ABB said.
ABB shares were down 0.4% at Rs 827.50 on NSE in afternoon trade.
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