Toshiba to invest 30 million US dollars in India
Toshiba Corporation of Japan announced that the company will invest about 30 million US dollar to expand business in India.
Toshiba Corporation of Japan on 10 November 2014 announced that the company will invest about 30 million US dollar to expand their production capacity in the power transmission and distribution business in India.
The investment is part of the Toshiba Corporation’s plan to invest 100 million US dollar in Indian power sector by 2016.
Toshiba will boost its business in India with a 3 billion yen (approximately 30 million US dollar) investment in new production capacity at Toshiba Transmission & Distribution Systems India Private Ltd (TTDI) in Hyderabad.
It is also announced that a new facility for large power transformers will come on line in 2015 at Hyderabad and at the same time as the full scale launch of a new unit for switchgears.
About Toshiba Corporation
In 2013, Toshiba Corporation of Japan established TTDI by acquiring from Vijai Electricals. It has also started operation of a new power transformer facility in Russia in February 2014.