Hitachi Hi Rel Power Electronics Pvt Ltd, a 60:40 joint venture between Japanese electronics major Hitachi Ltd and Hi-Rel Electronics Pvt Ltd an Ahmedabad based power electronics products maker, is setting up a manufacturing facility of power equipment at Sanand near Ahmedabad, according to a report.
The company has been allotted plot of 28,500 square meters in Sanand GIDC Phase 2, where it intends to produce power equipment such as medium voltage inverter systems.
The plant is likely to be commissioned within a year’s time, informed company officials. The move is likely to generate revenues to the tune of INR 800 crore by the fiscal year 2016.
Meanwhile, the company is expanding its operations at its facility in Gandhinagar. Piyush Shah, MD Hitachi Hi-Rel Power Electronics, said “We are setting up new manufacturing facility at Sanand and expanding existing unit at Gandhinagar. This will require an investment of about Rs 800 million for fixed assets. New capacities will help us achieve Rs 7 to 8 billion turnover in next five years.”
With new capacities going on stream, the market for products such as medium voltage inverter systems, uninterrupted power supplies and power conditioners for solar and wind power generation is likely to expand.
The company is aiming to corner about 15 to 20 per cent market share of India’s total $1 billion UPS market.
