The Hindu Business Line : Turbo Tech to supply gas turbines to Taiwan

Turbo Tech Precision Engineering Ltd has received orders for supply of 500- kw gas turbines to Taiwan for meeting off site power generation requirements.

Speaking to Business Line, Turbo Tech's Managing Director, Mr B.R. Krishna Kumar, said the orders for the turbines were placed by the Industrial Technology Research Institute of Taiwan. Taiwan's requirements are estimated at 400 turbines, he said. Given this large demand, the company proposes to set up a joint venture in Taiwan for making the turbines, he added. Turbines are to be used for meeting power generation in regions prone to natural disasters in the island nation. Turbines are preferred in view of the cost advantage. Turb Tech's turbines cost the equivalent of about $300 per kw, which is considerably cheaper than its international competitors, he added. Besides, the company is already shipping turbines to Philippines and Korea.

He said the company also plans to set up another joint venture in the United Arab Emirates. The location though is undecided. This is to cater to the large retail demand in West Asia for small turbines for power generation. Turbo Tech makes versatile turbines fired on gas, and recovers waste steam for air conditioning as well as heating water.

In addition to gas turbines, Turbo Tech has obtained orders for supply of high RPM (revolutions per minute) from the West Bengal Renewable Energy Department for powering rice mills in the State. These orders are for supply of 250 KW and 400 KW turbines fired through boilers burning rice husk. This would allow for reduction in energy demand from the State's power grid and thereby save on electricity costs for the mills.

Referring to investments by the International Finance Corporation (IFC), the World Bank's private sector lending, Mr Krishna Kumar said, the documentation was complete and disbursement was expected shortly. IFCI is investing the equivalent of $600,000 in the form of convertible preference shares in Turbo Tech.

The conversion would be at the discretion of the IFC, he said, though during the period, the company would have to service the equity at 8 per cent per annum.