New Delhi: Engineering company, Thermax India plans to invest over Rs200 crore in the current fiscal for expansion.
“We plan an investment of Rs200 crore this year. Our company spent Rs450 crore in the previous fiscal,” M S Unnikrishnan managing director, Thermax India told reporters here.
The company, which plans to use internal accruals for the investment, had in February signed a Rs500 crore contract to supply electrostatic power plants to Babcock & Wilcox Power Generation Group, Inc (B&W PGG), USA.
The contract, which is for a period of 15 years, grants the company the right to engineer, manufacture and sell utility boilers of up to 800 MW in size to generate steam in thermal power plants, owned by independent power producers.
The units would be produced at Thermax’s new manufacturing unit in Baroda, Gujarat. This agreement would give Thermax the right to use B&W PGG’s technology.
The company offers products and services in heating, cooling, waste heat recovery, captive power, water treatment and recycling, waste management and performance chemicals.
The order book of Thermax group at 31December, 2007 stood at Rs2,924 crore.