United Technologies Corporation (UTC) India, the parent company of American aircraft manufacturer Sikorsky, has decided to locally source components for its S-92 cabins being manufactured at the special economic zone here.
The company is working closely with the Tata Group for ensuring maximum indigenisation of the products by acquiring components from Tara Aerospace, a joint venture of Tata Advanced Systems Limited and Sikorsky within the SEZ.
The JV would manufacture an array of 4,000 components and sub-assemblies, according to Zubin Irani, UTC’s senior managing director of commercial companies.
Speaking to The Hindu, Mr. Irani, who was here recently, said the UTC had firmed up the expansion plans for its key divisions and these include doubling of capacity of its Otis lifts in Bangalore from 5,000 units to 10,000 units.
The company’s joint venture with leading residential air-conditioning manufacturer G.D. Midea Holding would invest Rs. 500 crore over the next five years in building a factory focussed on residential products.
Mr. Irani said the company has bagged the order for supply of escalators and elevators for the Hyderabad Metro Rail project involving an estimated investment of Rs. 400 crore.
“This is among the largest projects we have secured till now. We are confident of meeting the timeline and supplying the equipment in two years,” he said.
He admitted that the current market sentiment was not so encouraging and there was slowdown in the capital spending.
The company was exploring areas of growth and spending as this would be the key to expanding its footprint.
“We are focussing on those areas where we can offer our solutions, not the other way round,” Mr. Zubin Irani said.