Tamil Nadu deputy chief minster MK Stalin on Monday laid the stone for the proposed Rs 800-crore plant of Toshiba JSW Turbine and Generator Pvt Ltd, a joint venture between JSW Energy and Japan-based Toshiba Corporation.
The facility at Chennai would manufacture super-critical steam turbines and generators for thermal power plants in India.
Itaru Ishibashi, managing director, Toshiba JSW Turbine and Generator Pvt Ltd, said over the next five years the JV partners would invest around Rs 800 crore in the project.
Production under Phase I would commence in January 2011 and initially, the unit would produce steam turbine and generator (STG) parts. By 2012, it would start manufacturing STG sets and expects to achieve a production capacity of 3,000 mega watt per annum by 2014.
“Initial localisation would be 20-30 per cent, which will be increased to 50 per cent by 2014,” said Ishibashi, adding the Toshiba group would bring three technologies — super critical, super precision machining and super large-sized fabrication technology to India — through the joint venture.
The JV has a capital of around Rs 220 crore and is planning to employ 500 people by 2014.
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The Toshiba group will hold 75 per cent in the JV while JSW Energy and JSW Steel will have 20 per cent and five per cent respectively.
The plant would manufacture mid to large sized steam turbines and generators ranging from 500 Mw to 1,000 Mw. Keihin operators, Toshiba’s power equipment production facility at Yokohama in Japan would support in ramping up manufacturing and in working towards establishing the facility.
The JV is targeting sales of $400 million (around Rs 1,840 crore) by the end of 2015 fiscal.