Suzlon to set up Rs 980 cr business
By TNN |
Coimbatore: Wind energy major Suzlon Energy (SEL), through its Belgium subsidiary, is setting up a major engineering facility near Coimbatore on an area of 250 acre at an estimated investment of $ 220 Mllion ( Rs 980 crore)
SEL informed Bombay Stock Exchange on Monday, Hansen Transmissions International NV, Belgium, a step - down subsidiary of the company, proposes to setup a gearbox factory for manufacturing gearboxes for wind turbines in the megawatt range.
This is billed as one of the largest manufactruing facilities being planned near the texcity. of its kind so far in the southern city of Tamil Nadu. The Pune - based SEL already has a foundry unit here and the upcoming expansion will help to widen its manufacturing footprint in the south.
Sources told ET that the project, which will come up along the L&T bypass road that links Palladam taluk with Tirupur, was given the initial go - ahead by the commerce ministry on October 6, 2006 with full benefits accorded to it under the SEZ Act of 2004.
The project is slated to be operational by the end of 2008. It is estimated that the factory will reach its full production capacity by early 2010 with an output of 1,500 to 2,000 gearboxes per year and would provide employment to over 600 people in the region.
The gearboxes manufactured from this upcoming facility would be supplied to the company and other wind turbine manufacturers in the domestic market.
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