New Delhi: Hitachi Energy India will invest about Rs 2,000 crore to set up a large power transformer factory in Gujarat.
In a regulatory filing on Friday, the company said it is "investing approximately Rs 2,000 crore to establish a new Large Power Transformer (LPT) factory in Karjan, Vadodara, India".
Hitachi Energy said the company is committed to strengthening its manufacturing footprint to support the growing demand for electricity in the country and worldwide.
The new factory is expected to assist in meeting India's demand for reliable, efficient, and high-quality power equipment while supporting a stronger and more self-reliant energy value chain, it added.
The factory is scheduled for completion in FY28.
"This investment reflects our confidence in India's energy future and the country's growing stature as a strategic manufacturing base. By expanding our manufacturing presence, we aim to empower local communities, create skilled jobs, and deliver innovative solutions that support the country's energy and sustainability goals," said N Venu, Managing Director & CEO, Hitachi Energy India Ltd.
The project is expected to create more than 1,000 direct and indirect jobs.
Headquartered in Switzerland, Hitachi Energy is a global leader in electrification. It employs over 56,000 people in 60 countries and generates revenues of around USD 20 billion.
In India, Hitachi Energy operates under the legal entity name Hitachi Energy India Ltd and is listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).
