Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
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Corporate
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New Projects Siemens to set up transformer facility in Maharashtra Our Bureau
Mr J. Schubert (right), Managing Director, Siemens Ltd, and Mr V.K. Jairath, Secretary, Industries, Government of Maharashtra, at a press conference in Mumbai on Monday. - Shashi Ashiwal
Mumbai , May 30 SIEMENS Ltd is setting up a greenfield power transformer factory at its Kalwa complex near Mumbai to cater to the domestic and overseas markets. The factory, which will be the company's eighth in Maharashtra, envisages an initial investment of Rs 150 crore. The facility, which is scheduled to go on stream by 2006-end, will undergo capacity expansion in phases. Mr J. Schubert, Managing Director of Siemens Ltd, said that with the introduction of transformers in India, Siemens will now offer the complete portfolio of products covering the energy segment, encompassing power generation, transmission and distribution. "Initially, we were planning to set up the facility in China. But we chose Maharashtra, as we see significant potential here. The State Government cleared the project in a record four weeks," he told newspersons here on Monday. Mr Schubert said the factory would produce transformers for domestic and export markets up to 800 kV and 600 MVA ratings for AC and DC technology and special application transformers, like traction furnace applications. Pointing out that the State Government had assured stable power supply to the factory, he said Siemens was exploring the option of setting up a generation unit, mostly to cater to its own requirements at Kalwa. He said 20-30 per cent of the products from the factory would be exported to countries such as Sri Lanka and Bangladesh as also to West Asia and other Asian countries. The power transformer market in India, which is estimated at 40,000 mVa per annum, is set to witness a healthy growth on account of the expected capacity addition in the power sector in the near future. According to Mr V.K. Jairath, Secretary, Industries, Government of Maharashtra, deployment of these transformers will significantly reduce transmission losses and help manage the power distribution chain in India.
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