BackSiemens to invest Rs1,600 cr in India in 3 years
Siemens to invest Rs1,600 cr in India in 3 years
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New Delhi: Technology major Siemens said on 2 February it will invest Rs1,600 crore in India over the next three years for venturing into wind turbine manufacturing and scaling up existing production capacity.
Of the total investment, Rs500 crore would be used for setting up a high-end technology wind turbine manufacturing facility in the country.
“We will venture into wind turbine manufacturing ... we have identified 2-3 sites in Tamil Nadu and Gujarat and we are in discussions with the respective state governments for setting up the wind turbine plant ... we will decide on the exact location in 2-3 weeks," Siemens managing director (India) Armin Bruck told reporters.
The plant would be operational by 2012 and will produce turbines with a capacity of 200 MW per year initially.
Realising great business opportunity in the energy sector in the country, the company also plans to have presence in solar power, Bruck said, without giving further details.
The rest of the investment will go in research and development activities as well as augmenting manufacturing capacity for its products in signalling and metal technologies and healthcare solutions.
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