Bangalore, Dec 3: Power giant ABB today announced an additional 100 million dollar investment in India over the next three years to double its business volume by 2010.
Talking to newsmen here Group Chairman Hubertus Von Grunberg said ABB India has played an important role in strengthening ABB's global footprint and India, as a fastest growing economy, was a key focus area. The company aimed to increase its human resource base to 10,000 by 2010 from the currnet employee strength of 6,000.
He said ''We are extremely encouraged with the performance of our Indian operations and India will soon be among the top five markets for ABB''. Based on market outlook and ABB's well established presence here ''we expect the business volumes for ABB in India to double by 2010'' he added.
Having completed the previously announced investment programme of 100 M US Dollars,the Company has now planned to invest an additional 100 m USD for capacity and range expansion over the next two to three years, to support this growth according to Fred Kindle, President&CEO ABB Group. ''In addition to serving the needs of the Indian market , we are also determined to leverage India as a key resource base. Besides its pivotal role in the South Asia Pacific region, India is increasingly contributing to ABB's global operations'', he added Expansion plans ncluded a new greenfield facility at Nelamangala, near Bangalore for manufacturing Low Voltage products and Power Electronics. The company was also establishing new manufacturing units in Vadodara for Small Power Transformers and Distribution Automation products. Meanwhile, capacity and range expansion is underway across businesses and locations. ABB would double its production capacity for high voltage (HV) breakers , instrument transformers and HT (high tension) machines as well as expand the capacity of large power transformers to 17000 MVA as part of its expansion plans. ABB will also manufacture 765 kV equipment in India, to support the country's power infrastructure needs.
He said ABB was also committed to leveraging India's competitive advantage and rich pool of engineering talent to a greater extent.
In addition to its existing global Operations and Engineering Centre in Bangalore a second such Centre has recently been established in Chennai to support Power Systems and Process Automation projects across the world. The company planned to double its headcount at these centres from the present strength of around 350 engineers.
ABB also plans to significantly increase the number of engineers and domain experts at its global Research and Development Centre here . This is now the biggest such Centre in ABB's global R&D network and was handling increasingly complex projects that were playing an integral part in the company's ongoing quest to remain at the forefront of technology and innovation he added.