Japanese electronics and electrical equipment manufacturer Mitsubishi Electric plans to invest about Rs 300 crore in India by 2016.

The investment would be for equity infusion and capital expenditure, a senior company official told Business Line .

The official said that out of the total investment about Rs 80 crore would be invested in Chennai for manufacturing elevators and another Rs 100 crore for making air-conditioning equipment.

The site for the air-conditioning unit has not been decided but it would be in North India.

Globally, Mitsubishi Electric has a turnover of $45 billion.

Broader footprint

The company is present in verticals such as semiconductors, commercial satellites and power plant equipments. In India, it is present since 2005, and in the last fiscal, it clocked revenues of Rs 3,200 crore.

The company also makes major equipment such as engines, inverters and step down transformers for metro rail coaches in Japan.

It has already supplied such equipments for Mumbai and Delhi metro rail projects.

“Depending on large orders from such projects, the company could also set its own manufacturing facility in India,” the official said.

The company also has tie-up with L&T Ltd for making power turbine and generators. It wants to further expand its footprint in power sector.

The official added that the company is also considering establishing a unit for servicing power transmission and distribution sector.

It will not manufacture equipments but supply them as an engineering, procurement and construction contractor.

A joint venture with an Indian company could also be considered for this sector.

The official added that the company is also looking at supplying gas insulated substation to the transmission companies.

rahul.wadke@thehindu.co.in

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