New Delhi, Feb 19 (UNI) Power and automation technologies major ABB today said its manufacturing units in Vadodara for small power transformers and distribution automation products will become operational next month, while most of its other expansion plans will be completed in an year's time.
''Our manufacturing units in Vadodara for small power transformers and distribution automation products will become operational next month,'' ABB Managing Director Biplab Majumder told reporters here.
On the anvil is a greenfield facility at Nelamangala, Bangalore, for manufacturing low voltage products and power electronics.
The company is also looking at setting up a wind mill generator factory at Baroda along with upgrading and setting up new facilities at its Faridabad unit.
The company has 37 ongoing projects of expansion, Mr Majumder informed.
ABB had said it would invest an additional 100 million dollars in the country to fund its expansion plans, and expected to double business volumes by 2010.
''The funds will be generated through internal accruals,'' he said.
The company has already invested the same amount earlier.
ABB India currently employs over 6,000 people and expects its human resource base to touch around 10,000 by 2010 to support its growth plans.
The company is eyeing new streams for generating revenue. ''We are looking at water, asset management, automobiles, railways, wind power generation, SEZs, port and habour systems along with providing complete solutions to power generation,'' Mr Majumder said.
ABB India Chairman Ravi Uppal added, ''we are open to the idea of acquisitions, but will be based on merit.'' UNI SR PBB RN1754