New Delhi, Jan 3 (UNI) Leading electrical equipment manufacturer Indo Asian Fusegear Ltd today commissioned a new switchgear plant in Uttarakhand at a cost of Rs 40 crores.
''The plant, when fully functional, will have an annual production capacity worth over Rs 200 crores,'' a company statement said.
Uttarakhand is fast emerging as a favorite destination for leading corporate houses to set up their manufacturing plants.
The state government is actively encouraging environment-friendly manufacturing facilities, which also offer vast employment opportunities,'' Chief Minister Bhuwan Chand Khanduri said while innaugurating the plant.
The unit, spread over an area of 1.6 lakh sq ft, is second of the three plants planned by Indo Asian at SIDCUL, Uttarakhand.
Indo Asian has already set up its lighting equipment plant at here last year.
It is also setting up another plant for home automation and switches, in a joint venture with Spanish company Simon here, which is likely to be commissioned by the end of the current financial year.
''With this new facility, Indo Asian has taken another step towards becoming one of the largest players in electrical equipment business in India. This new facility will improve our ability to develop and deliver world class electrical switchgear products, and will also equip us to keep pace with the growing demand for switchgears globally,'' company Chairman and MD V P Mahendru said.
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