Electrical goods maker Havells India today said it, along with a Chinese partner will invest up to $100 million (nearly Rs 530 crore) in the next three years to set up a manufacturing facility at Jiangsu province in China.
The new facility will come up under a 50:50 joint venture, Jiangsu Havells Sylvania Lighting Co Ltd, with China's Shanghai Yaming Lighting Co.
"The initial investment would be $50 million, which after around three years will go up as high as $100 million," Havells Joint Managing Director Anil Gupta told reporters here.
The plant will start initial commercial production in April 2012 and will have full swing output by November next year, he added.
The JV firm will produce lighting products like HID lamps, LEDs, CFLs and lighting fixtures, he added.
Initially the company plans to export products wherever the Sylvania brand is sold currently and the later would also cater to the Chinese market, Gupta said.
At present Havells sells the Sylvania brand, which it had acquired in 2007, mainly in Europe and Latin America. It has also been gradually expanding in West Asia and Africa.
The JV expects revenues of $30 million in the first year itself and $100 million in the next three years, he said.
"Though we had presence in China in R&D space, the need for a manufacturing base was always there," Gupta said.
In India the company has eight facilities located in Rajasthan, Uttarakhand, Uttar Pradesh, Himachal Pradesh and Haryana.