Business Standard

Elecon to invest over Rs 182-cr for expansion

Image

Press Trust of India Mumbai

"During 2008-09 we will be investing Rs 182.06-crore in our expansion plans which include manufacturing new wind mills and their gear box at Vallabh Vidhyanagar, manufacturing of lift and elevator gear boxes and upgradation of existing facilities," company's Chairman and Managing Director, Prayasvin B Patel, told reporters.

The company has earmarked more than Rs 100-crore for wind mill gear box facility.

 

"We are looking at investment of more than Rs 100-crore for wind mill gear box facility. The unit will start production by September this year and will attain its full production capacity of 200-300 units by the end of March 2010," he said.

The gear box would have capacity of one-two Mw, he said.

The company would invest Rs 10-12-crore in setting up a new facility to manufacture wind mills at Vallabh Vidhyanagar, he added.

"We want to sell 50 units of wind mills this year and aims to sell 300 units by 2010-11," he said.

The rest of the amount would be invested in manufacturing of lift/elevator gear boxes and upgradation of the existing facilities.

The company has raised the amount through internal accruals and from borrowings, he said.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 27 2008 | 11:44 AM IST

Explore News