Grasim Industries Limited (Grasim) has signed a definitive agreement to form a joint venture company (JVC) in India with Maschinenfabrik Reinhausen GmbH (MR) of Germany for manufacture and sale of Composite Hollow Core Insulators (CHCI) to serve the power transmission and distribution (T&D) industry globally.
The JVC, Aditya Birla Power Composites Limited (ABPCL), in which Grasim will hold 51% stake, will set up a CHCI manufacturing plant at Halol, Gujarat, India at a cost of ₹100 crore.
“This joint venture brings together Aditya Birla Insulators (a unit of Grasim), the third largest global porcelain insulator player and Reinhausen Power Composites (a unit of MR), the second largest Hollow Composite Insulator player globally, with over five decades of combined experience in the insulator industry,” Grasim said in a statement.
ADVERTISEMENT
ABPCL will build a fully integrated CHCI plant at Halol, bringing the latest technology for Composite Hollow Insulators from Europe. It will serve the insulator requirements of Indian and global OEMs in the power equipment industry, helping them to enhance their product proposition for the T&D utilities worldwide.
Composite hollow core insulators is the fastest growing segment of insulators, and improves the performance as well as safety of power equipment.
Kalyan Ram Madabhushi, CEO – Global Chemicals and Group Business Head — Fertilisers and Insulators, Aditya Birla Group said, “As an insulating solutions provider to the power industry for over 50 years, this venture is a natural next step for Grasim to expand into the composite hollow insulator segment and we are happy to partner with the global quality leader in this segment, MR.”
ADVERTISEMENT