Delta India to invest $70mn to set up manufacturing, R&D unit
Power management solutions provider Delta India plans to invest 70 mn dollar for setting up manufacturing plant and a research and development facility in the country in the next one year.
By PTI |
RUDRAPUR : Power management solutions provider Delta India plans to invest 70 mn dollar for setting up manufacturing plant and a research and development facility in the country in the next one year.
"We will spend 70 mn dollar in setting up another plant in Rudrapur and a R&D centre in Gurgoan in the next one year," Delta India Managing Director Dalip Sharma told reporters here.
The company has already set up a manufacturing plant in Rudrapur, Uttarakhand, at an investment of 30 mn dollar and is expected to manufacture products worth about 28 mn dollar by the end of the current calendar year, when it becomes fully operational, he said.
About one-tenth of the output of the company, which is an Indian subsidiary of Delta Thailand, will be exported to neighbouring countries like Sri Lanka and Bangladesh, he said, adding the domestic arm has all necessary clearance for investments from the parent.
"We have the necessary approvals from the Foreign Investment Promotion Board for our investments," Sharma said.
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Delta India clocked a turnover of Rs 400 crore in December 2007 and targets a revenue of Rs 600 crore by December. Start a SIP with as low as ₹500 with ET Money App!
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