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Having acquired a majority state (60 per cent) in a Gandhinagar-based plant in 2011, Japanese major Hitachi Ltd on Wednesday announced starting operations at its new manufacturing facility at Sanand in Gujarat as it prepares to hold its first ever Board of Directors’ meeting outside Japan in New Delhi on Thursday, indicating its enhanced focus on India.
Hitachi Hi-Rel Power Electronics Pvt Ltd (HHPE), a subsidiary group company of Hitachi, plans to enhance the line-up of industrial power electronics for use in fields such as power generation, steel-making and chemicals. The new Sanand plant has been set up at an investment of Rs 60 crore.
Together, the Gandhinagar and Sanand plants are targeting a turnover of nearly Rs 1,000 crore in the next four to five years, that would include 15-20 per cent of exports, Piyush Shah, Managing Director, HHPE, told Business Line here.
HHPE also plans to export its products to West Asia, South-East Asia and Africa. The Sanand factory will produce industrial power electronics products such as medium and low-voltage inverter drives, steel automation drives and industrial automation products. India’s current market size in power electronics is about Rs 6,000 crore, he said.
Also, the company plans to expand the Gandhinagar plant by debottlenecking in the next five years, with an additional investment of Rs 150 crore, Shah said. This plant manufactures power electronics such as industrial UPS, battery chargers and inverters for railway applications. Since October 2012, it has added grid-connector solar power inverters to the production line to address the demand for renewable energy.
Hitachi has identified India as a fifth key overseas management area and will strive to further expand business centred on social innovation in the country, Hiroaki Nakanishi, Representative Executive Officer and President, Hitachi Ltd, who inaugurated the Sanand plant, said. A number of senior Hitachi officials were present on the occasion.
At Kadi, in Mehsana district, Hitachi has a separate plant manufacturing home appliances. Having a presence in India for the last 80 years, Hitachi now has 6,800 employees in the country.
The Gandhinagar-based Hi-Rel Power Electronics Pvt Ltd was set up in 1984. It had a turnover of Rs 150 crore in 2011-12.
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