New Delhi, Jan 31 (UNI) Power management products maker Controls and Switchgears (C&S) Group today entered into a joint venture with Portugal firm Efacec Group to set up a medium voltage switchgear manufacturing facility with an investment of Rs 35 crore.
''The facility will come up in Noida with an investment of Rs 35 crore and will become functional within a year's time,'' said C&S Group CMD Ravinder Nath Khanna.
The JV will will supply products for primary distribution like metalclad panels up to 40 KA breaking capacity and secondary distribution products like ring main units etc, he added.
The operations are expected to achieve a sales turnover of Rs 200 crore by the fourth year of operation.
The company will also use the facility for export to east Asian countries apart from Latin America, West Asia, the US and Portugal.
The C&S Group expects a turnover of Rs 700 crore in FY2007-08, which is expected to touch Rs 900 crore by March 2009.
The Group will invest Rs 250 crore for upgradation of its 15 mnanufacturing facilities, spread over Noida, Hardwar and Pantnagar, he said.
The funds will be generated internally, though the company is open to the idea of going public, he added.
The company has also set up a diesel genset manufacturing plant in Uttarakhand in a JV with Himoinsa, which has an annual capacity of 15,000 sets with an investment of Rs 35 crore. ''The plant manufactures units with a capacity of 2.5 kV-3,500 kV and will start rolling out units in one-two monthsm'' Mr Khanna said.
The Indian market for primary and second medium voltage switchgear is about Rs 1,500 crore, growing at 25 per cent.
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