India's leading cable-maker, Polycab Wires and Cables, has tied-up with France's Nexans to set up an Euro 60-million (Rs 400-crore) project near Baroda in Gujarat, a top company official said.
"We have decided to set up a 50:50 joint venture with the world's largest cable-maker Nexans, to manufacture speciality cables like elastomeric and extra-high voltage cables (EHV)," Polycab Wires' president and CEO, R S Vaidyanathan, told reporters here today.
"Earlier, we had plans to set up the project in two phases at different locations, but now we are setting up the facility at single location. Production can later be extended to very high voltage terrestrial cables," Vaidyanathan said.
The Euro 60-million project will commence operations in 18-months, he said.
Nexans is a leading global player in the cable industry offering an extensive range of cables and cabling systems.
