Financial Daily from THE HINDU group of publications
Saturday, Feb 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Feb 26, 2005 |
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Corporate
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Outlook Vestas RRB plans to set up units in Sri Lanka, Bangladesh Our Bureau
Kolkata. Feb. 25 THE wind-electric generator manufacturing major, Vestas RRB India Ltd, is planning to make a foray in Sri Lanka and Bangladesh. A 51:49 joint venture between RRB Consultants and Engineers Pvt Ltd and Vestas Wind Systems A/S of Denmark, the company expects to more than double its turnover from Rs 270 crore in 2003-04 to Rs 600 crore this year. Talking to media persons here on Friday, the Managing Director, Mr Rakesh Bakshi, said the company was negotiating with the electricity authorities of Bangladesh and Sri Lanka for setting up small demonstration projects. "We may consider setting up subsidiaries in those countries once the business volume increases." At home, the company is witnessing unprecedented growth opportunities. "As on date, wind contributes 3000 MW out of a total renewable energy (except hydel) capacity of 4000 MW in the country. We envisage capacity addition of 7000 MW in the wind energy sector by 2012," Mr Bakshi said. Currently, commissioning a Rs 35-crore plant in Tamil Nadu for manufacturing blades and controlling equipment, the company expects to reduce the cost of its generators by 20-25 per cent in the next two years. The unit will also increase the localised content in its wind energy generation sets to 95 per cent. "At the moment, wind energy installation costs are pegged at Rs 4-4.5 crore. Our market will widen once it drops below Rs 4 crore," he said. While there was no plan to tap the capital market in the immediate future, the company could consider going public at a later date.
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