TMEiC invests Rs 250 cr in new plant

TMEiC invests Rs 250 cr in new plant
Toshiba Mitsubishi Electric Industrial Systems Corporation (TMEiC) India, a subsidiary of TMEiC of Tokyo, has invested Rs 250 crore in its new industrial motor manufacturing facility at Vasanth Narasapur phase-2, a top executive said on Monday.

Talking to Deccan Herald, TMEiC India Managing Director Hemant Joshi said, “The company has invested Rs 250 crore in the  new greenfield industrial motor factory that is being constructed across 21 acres at KIADB Industrial Area in Vasanth Narasapur phase-2, Tumakuru district.

It is in advanced stages of completion and will start commercial operations by March 2016.” The company aims to hire around 150 people, with a mixed background of technicians (with ITI education) and engineers from the electrical and mechanical streams.

The industrial motor facility will manufacture large rated industrial motors for varied industrial applications in oil and gas, power generation, metals, cement, water and wastewater, chemicals and fertilisers, etc.

The company has the capacity to produce 150 motor units per month. TMEiC India is looking to cater to the demands of domestic and export markets. “We are looking at South-east Asia and Middle-East as of now,” Joshi said.

Meanwhile, TMEiC has announced the completion of the integration of the power electronics factory acquired from AEG last year. TMEiC also inaugurated its corporate office in Bengaluru on Monday.

Support to ‘Make in India’
TMEiC President and CEO Kiyotaka Machida said, “In line with the ‘Make in India’ programme, TMEiC Japan has invested in India to manufacture its products, specifically in Karnataka, to cater to the Indian requirement as well to support the global business of TMEiC.”

Joshi adds, “TMEiC achieved the global top share of high voltage (grid connected) PV inverters last year and the factory in Bengaluru is playing a very important role for TMEiC.” The plant will have monthly production capacity of 30 to 40 mW solar inverters, and 10 to 15 power electronics (high voltage) drives. TMEiC was formed in 2003 from the merger of the industrial systems departments of Toshiba Corporation and Mitsubishi Electric Corporation. It had revenues of 187,472 million yen in 2013, which is approximately $1.57 billion at today’s rates. The Indian subsidiary of TMEiC started its operations from October 2010.

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