Thermax India to invest Rs 200 cr during FY09

New Delhi, May 11 (UNI) Thermax India, energy and environment engineering solution provider, today said it plans to invest over Rs 200 crore during FY09 for expansion.

''We plan to invest Rs 200 crore during FY09. The funds will be raised through internal accruals,'' Managing Director (Thermax India) M S Unnikrishnan told reporters here.

We invested Rs 450 crore during the previous fiscal, Mr Unnikrishnan added.

The company offers products and services in heating, cooling, waste heat recovery, captive power, water treatment and recycling, waste management and performance chemicals. The company has recently signed Rs 500 crore contract for technical transfer license agreement with US-based Babcock&Wilcox Power Generation Group, Inc The contract, which covers a period of 15 years and boilers up to 800 MW in size, grants Thermax the right to engineer, manufacture and sell subcritical B&W Radiant utility boilers in India.

The units will be produced at Thermax's new manufacturing unit in Baroda, Gujarat.

UNI BJR AK KN1552