Hitachi, SFO Technologies float JV for control systems

NEW DELHI: Japan’s Hitachi Ltd on Tuesday announced a joint venture with Kochi-based SFO Technologies Pvt Ltd to manufacture control systems for thermal power projects.

“The joint venture company, Hitachi NeST Control Systems Pvt. Ltd is scheduled to be established in October 2011 and to be based in Bangalore. Hitachi India Pvt Ltd, a wholly owned subsidiary of Hitachi and SFO Technologies will own the joint venture’s shares 70% and 30%, respectively,” an official statement said.

Hitachi NeST Control Systems Pvt Ltd is targeting sales of Rs 150 crore by March 2015.
The joint venture would engineer, manufacture, commission and offer after-service advanced control systems for thermal power plants.

Hitachi would bring advanced control technology in the joint venture, the statement said. Hitachi has been using SFO Technologies’ engineering services in thermal power control systems field for the last 10 years for projects both inside and outside India.

SFO Technologies would merge its existing 10 years experienced control systems division with the new joint venture company and offer manufacturing space and expertise in Bangalore for localising the technology in India.

Hitachi has made significant investments in India, including BGR Energy Systems, to manufacture super-critical turbines, generators and boilers in Chennai.