Ashok Transformers to make power meters

Surat-based Ashok Transformers is eyeing a foray into the manufacture of new generation energy meters. The company has recently signed an agreement with Electro Magentica of Bucharest for the purpose.

"We are looking to enter the global markets for the manufacture of electricity meters," the company's managing director Dilip Vakil said.

"The MoU concerns transfer of technology for the meters. While the brass parts will be manufactured at Ashok Transformers' Udhna facility, the electronic parts will be imported," said Suresh Bankeshwar, an executive director of the company. He added that the financial details are yet to be worked out.

According to the new Electricity Act 2003, consumers will have the option of installing electricity metres of their choice.