Areva T&D India sees sales doubling by 2010
10 Apr 2008
Areva T&D India Ltd, the Indian arm of the French energy firm Areva SA plans to hire more people by 2010 as part of its expansion plan.
Areva T&D India, which recently secured a Rs418 crore contract from Essar Constructions to supply equipment to the Essar's power plant projects in Gujarat and Madhya Pradesh, expects its sales to double in the same period with export revenues seen going up to 14 per cent from the existing 10 per cent.
The Indian company is also betting on the high voltage gas-insulated switchgear (GIS) segment, where it already has orders worth about Rs1700 crore.
The company's core business comprises transmission and distribution of energy, which contributes about 60 per cent of the revenues while the remaining revenue is generated from other segments such as power equipments.
Areva, which reported sales of Rs20.1 billion for the year-ending December 2007, plans to add another 500 employees to its existing 3,500 people in India by 2010 to boost its growth plan, said Rathin Basu, managing director, Areva T&D India Ltd.
The company is also investing Rs700 crore in greenfield projects and capacity expansion programmes at Baroda, Hosur and Chennai, he added.
According to Areva's executive committee member and T&D unit chairman and CEO, Philippe Guillemot,"The transmission and distribution market will continue to grow in India, China and Russia. India is the fastest growing market if you include the exports."
Areva T&D Group holds 72 per cent stake in Areva India and the rest is held by the public.
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