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Monday, July 22, 2024

ABB India to invest Rs 1,000 cr in country

The company will also pursue opportunities for inorganic growth and could spend around Rs 1,800 crore on acquisitions.

Electrification and automation company ABB India is lining up investments for both organic and inorganic growth in the country. 

Sanjeev Sharma, managing director and country head, ABB India, said the company will invest Rs 1,000 crore in the country for capacity expansion over the next five years across business segments. The company will also pursue opportunities for inorganic growth and could spend around Rs 1,800 crore on acquisitions. This represents around 50% of the company’s cash balance.

The company’s four main business divisions in India are electrification, process automation, motion and robotics & discrete automation, with 25 plants across five manufacturing location. ABB India is aspiring to be a Rs 10,000 crore revenue company. The company had a record year in 2022 with orders at Rs 10,028 crore.

As part of its expansion plans, ABB India on Friday opened a new factory in Nashik which doubled its gas insulated switchgear (GIS) capacity.  ABB India also launched PrimeGear ZX0 eco-efficient switchgear in the country for applications up to 12kV.

Ganesh Kothawade, senior vice president and head distribution solutions division, electrification business, ABB India, said, with the increase in investments into megacities and infrastructure, the demand for sustainable, maintenance-free switchgear is growing.

The Nashik factory will manufacture primary and secondary GIS and serve customers across various industries including power distribution, smart cities, data centres, metro, railways, tunnels, ports, highways and other infrastructural developments.

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