Indo-spanish joint venture of EMS launched

Bangalore, May 17 (UNI) An Indo-spanish joint venture in the electronic manufacturing services sector with an initial investment of Rs 10 crore was launched toay by two Indian entrepreneurs.

The firm Indic Electronics Private Limited which will have its factory in Doddaballapur, near here, would commence production by August this year and has a committed 10 million dollar order, Company Vice Chairman Anil Gupta told newsmen here.

The Spanish partners were Electronica Itel, a 120 million dollar company, and DigiProces which had a turnover of 18 million dollars.

Indic Managing Director Alok Garg said the company would offer end to end tailor made solution from conceptualisation to final product, including detailed functional testing and simulation.

He said the company would make a business of Rs 50 crore during the current fiscal and Rs 100 crore during the first full year of operation next fiscal.

UNI