Toshiba JSW investing $160 million in steam generator plant in Chennai
02 Feb 2010
Toshiba JSW Turbine and Generator Pvt. Ltd. (Toshiba JSW), a joint venture between Toshiba Corporation and JSW Group, will be investing around $160 million in its upcoming facility in Chennai, Tamil Nadu.
Yesterday, Tamil Nadu's deputy chief minister M K Stalin inaugurated the proposed Rs 800-crore Toshiba JSW plant, which will manufacture and market super-critical steam turbines and generators for thermal power plants in India.
In May 2008, Toshiba Corporation, Japan's largest supplier of nuclear reactors had entered into an agreement with the O P Jindal Group to set up a joint venture to manufacture and market super-critical steam turbines and generators for thermal power plants, to compete with public sector leader BHEL and engineering giant L&T, which dominate the Indian power equipment market. (See: Toshiba, O P Jindal Group form joint venture to manufacture steam turbines)
The Toshiba JSW facility is located about 18 kilometers north of central Chennai. Over the next five years from fiscal year 2009, Toshiba JSW expects to invest approximately $160 million in the plant and its manufacturing equipment and essential facilities, including waste-treatment facilities.
Toshiba JSW will manufacture and market mid- to large-sized steam turbines and generators ranging from 500-megawatts (MW) to 1,000MW, for highly efficient super-critical thermal power plants in India.
Keihin Operations, Toshiba's power equipment production facility in Yokohama, Japan, will support Toshiba JSW in ramping up manufacturing, and in working toward establishing an independent production scale of 3,000MW a year by 2014.
Toshiba JSW expects its steam turbines and generators to contribute to the generation of cleaner energy, and to help meet a surge in demand for power expected in India in the near future. Toshiba JSW anticipates sales in the region of $400 million by the end of fiscal year 2015.
Toshiba JSW has already started recruiting staff and plans to hire 500 people by 2014. Approximately 80 new hires will receive training in Japan under a scholarship program that will help them in acquiring essential know-how in shop floor leadership and manufacturing skills, and also include time at Toshiba's Keihin Operations.