The Hindu Business Line : Indo Asian plans 3 plants in Uttaranchal at Rs 67 crore

Indo Asian Fusegear, an electrical switchgear and lighting equipment manufacturer, is planning to set up three manufacturing units in Haridwar in Uttaranchal at a total investment of Rs 67 crore.

The first of the three plants is being set up to augment the company's production of lighting equipment.

The second plant is for the manufacture of a range of electrical circuit protection equipment, including distribution boards, switch boards, and switch panels, among others.

At a third plant, the company would manufacture wires and cables including high-tension cables.

"Of the total investment of Rs 67 crore, Rs 25 crore is being invested through internal accruals while the rest is being arranged through debt. While the plant for lighting equipment would be inaugurated on July 1, the other two plants would commence production in 1-2 months," said Mr V.P. Mahendru, Chairman and Managing Director.

The company has six other manufacturing plants - two each in Noida in Uttar Pradesh and Parwanoo in Himachal Pradesh and one each in Jalandhar in Punjab and Murthal in Haryana.

"The three new plants will cater to the domestic requirements, while the existing plants would be dedicated for exports," said Mr Mahendru.

The company has received export orders worth Rs 75 crore in the current fiscal, thrice its export turnover of the previous fiscal, he added.

Indo Asian is also setting up a manufacturing plant in Saudi Arabia in association with its Saudi joint venture partners, National Company for Glass Industries (Zoujaj) and Saudi Offset Ltd Partnership.

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