ABB India seeks govt to enhance power capacity to meet growth

By Staff
|
Google Oneindia News

Bangalore, Mar 15 (UNI) Power giant ABB today urged India to enhance power generation capacity and tackle transmission and distribution losses effectively to keep pace with the phenomenal economic growth it was witnessing currently.

Talking to newspersons here, ABB Group CEO Fred Kindle said India, along with China, was leading the resurgence in economic growth and to maintain the current level of eight to ten per cent economic growth, industrial production should grow in double digits.

To achieve this the country should avoid power shortages, he added.

''By overcoming its infrastructure challenges and unleashing its huge potential, India will take its rightful place in the emerging global economic order,'' he added.

Mr Kindle said the Asian region currently contributed a quarter of the total revenue of ABB and the growth was led by India and China.

Reaffirming ABB's commitment to India, he said that of its 100 million Dollars investment plan announced in 2004, the company had already spent 50 million Dollars. The remaining phase of investment would be completed by early 2007, he added.

The investments included 20 million Dollars in a new facility in Haridwar for the manufacture of low voltage distribution electrical units and a vacuum interrupter plant in Nashik. Capacity expansions were also on in other ABB India locations.

''ABB's investment programme in India is on course and we will continue to expand both our capacity and product range as required,'' he said.

He said India should sustain its present growth momentum and accelerate it.

Stating that ABB would continue to invest in Indian operations.

he said the time was too premature to announce further investments.

He said India was not only a key market for the company, but also an important resource base. It was also the hub country for the South Asian region and played an important role in ABB's Global operations.

During his stay, Mr Kindle called on Karnataka Chief Minister H D Kumaraswamy and thanked him for the support extended to ABB for its expansion in the State. He also inaugurated the global operation and Engineering Centre here which would focus on developing and executing system and engineering solutions for ABB's global automation basis and act as a resource centre for the company's world wide operations.

UNI VK RG RKN1627

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X