Toshiba Corporation has announced that it will invest about $30 million in a power transmission and distribution business in India.
The Japanese firm said the new investment will be for expanding the production capacity of Toshiba Transmission & Distribution Systems (India) Pvt. Ltd. in Hyderabad.
“Toshiba Corporation will reinforce its transmission & distribution (T&D) business in India with a 3 billion yen (approx. $30 million) investment in new production capacity at Toshiba Transmission & Distribution Systems (India) Pvt. Ltd. (TTDI) in Hyderabad,” the company said in a statement on Monday.
This investment is part of the $100 million Toshiba plans to invest in T&D business in India by 2016.
“India is a high growth market that Toshiba has positioned as a strategic base for its power-related businesses,” said Katsutoshi Toda, chairman and managing director, TTDI.
A new line 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.
Alongside its existing production line of small-and medium-capacity transformers and low-and medium-voltage switchgears, the new power transformer line will support production of 765kV transformers with a capacity of 500MVA, while the new switchgear line will produce high-voltage products.
