Date:16/03/2006 URL: http://www.thehindu.com/2006/03/16/stories/2006031608271700.htm

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ABB plans 2 new units

Special Correspondent

Will invest over $20 million in Haridwar and Nashik plants

Will continue to expand both capacity and product range
Indian subsidiary contributed revenues in excess of $700 m

Will look at acquiring small companies

— PHOTO: G. R. N. Somashekar

STRENGTHENING OPERATIONS: Fred Kindle, President and CEO, ABB Group (left) and Ravi Uppal, Head, South Asia Region, and Vice Chairman and Managing Director, ABB India, at a press conference in Bangalore on Wednesday.

BANGALORE: Power and automation technologies major ABB will set up a new low voltage distribution electricals unit in Haridwar and a vacuum interrupter plant in Nashik with an investment of over $20 million, the Switzerland headquartered company's President and CEO, Fred Kindle, announced here on Wednesday.

The Haridwar unit will become operational by the third quarter of the calendar year while the Nashik plant will start functioning by early next year with both units employing close to 400 people.

Mr. Kindle said the Group's Indian subsidiary, ABB India, has already spent $50 million out of the $100 million investment that he had announced during his last visit here in November 2004. "The balance $50 million would be spent by early 2007", he told reporters during a visit to ABB's local operations here.

He declined to hazard a guess on the company's fresh investment plans in India saying, that it was "premature to talk about it".

"ABB's investment programme in India is on course and we will continue to expand both capacity and product range as required. India is a high priority country on the ABB's radar screen.

"It is not only a key ABB market but is also a vital resource base and a hub for the South Asia region ", he said.

During his visit, Mr. Kindle opened ABB's global operation and engineering centre here that would focus on developing and executing system and engineering solutions.

Mr. Kindle also visited the expanded group R&D centre where the company plans to ramp up the number of scientists, engineers and domain experts.

He also met the Karnataka Chief Minister, H. D. Kumaraswamy.

"We hope that India would continue to give a good, decent double digit growth", ABB India's Vice Chairman and Managing Director, Ravi Uppal, said.