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Japanese conglomerate Toshiba Corporation will invest $ 30 million to reinforce its transmission and distribution business in India, the company said in a statement on Monday.
The investment will be in a new production capacity of Toshiba Transmission and Distribution Systems (India) Pvt Ltd (TTDI) in Hyderabad. “A new line of for large power transformers will come on line in spring 2015, at the same time as the full scale launch of a new line for switchgears,” the company said in a statement.
“India is a high growth market that Toshiba has positioned as a strategic base for its power-related business. In the period up to fiscal 2015-16, Toshiba plans to invest a cumulative $100 million in its transmission and distribution business including the current round of investment,” said Katsutoshi Toda, Chairman and Managing Director TTDI.
Toda added that the company aims for a 20 per cent share of the Indian market by 2018 and wants to make India a production base for other major markets of Europe, ASEAN and Africa.
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