Chennai, Sept. 2
THERMAX Ltd plans to significantly increase its sourcing of components and raw materials from China over the next 12 to 18 months.
It now sources about Rs 30 crore worth of raw materials and components, according to Ms Meher Pudumjee, Chairperson, Thermax.
Thermax has established an office in Shanghai and bagged an order for three absorption chillers worth about Rs 2.5 crore for a shopping mall.
The company's strategy was to learn about Chinese players in the absorption chiller market, and to understand the Chinese market as to when Thermax could establish its presence there. This was not going to happen quickly, she said at a press conference here on Thursday. The Chinese market was "very opaque" now, Ms Pudumjee added.
Mr Prakash M. Kulkarni, Managing Director, said the company hoped to increase its overseas operations, especially in the US and Europe. It had established a company in the US, which was the sales and service arm for the company, and would put in place more people to see that the business grew.
He said Thermax's cogen division, which executed cogeneration and captive power projects, had on hand orders for 134 MW totalling about Rs 400 crore. These projects would be commissioned by September 2006. The company has, so far, commissioned seven captive power and cogeneration projects totalling 144 MW.