Electrical goods maker Havells India along with a Chinese partner will invest up to USD 100 million in the next three years to set up a manufacturing facility at Jiangsu province in China.
The new facility will come up under a 50:50 joint venture, Jiangsu Havells Sylvania Lighting Co Ltd, with China’s Shanghai Yaming Lighting Co.
“The initial investment would be USD 50 million, which after around three years will go up as high as USD 100 million,” said Anil Gupta, joint managing director, Havells.
The plant will start initial commercial production in April 2012 and will have full swing output by November next year, he added. The JV firm will produce lighting products like HID lamps, LEDs, CFLs and lighting fixtures, he added.
Initially the company plans to export products wherever the Sylvania brand is sold currently and the later would also cater to the Chinese market, Gupta said. The JV expects revenues of USD 30 million in the first year itself and USD 100 million in the next three years, he said.
