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Crompton Greaves today signed a joint venture agreement with PLNE, an Indonesian company to manufacture and market high voltage and extra high voltage switchgear in Indonesia.
Crompton Greaves (CG) will own 51% in the company and rest will be held by its Indonesian JV partner.
The JV terms includes a technology transfer by CG over a period of five years for the production of the entire range of switchgear for the network.
The products will be manufactured in CG‘s new manufacturing base in Indonesia.
Production is expected to commence in 24 months, the company announced in a statement today.
