Indo Asian Fusegear to diversify into power distribution

New Delhi: Electrical equipment manufacturer Indo Asian Fusegear Ltd (IAFL) on Tuesday announced plans to foray into the power distribution. The Delhi-based firm would set up a new company, Indo Asian Power Distribution and Infrastructure (IAPDIL), with an investment of Rs 25 crore .

The company is in dialogue with State electricity boards and other utilities for taking up distribution network on a franchise basis. Initially the company is planning to work on projects in north India including Uttrakhand, Uttar Pradesh, Rajasthan, Haryana, Punjab and Madhya Pradesh.

The initial investment will be made through internal accruals of Indo Asian Fusegear Ltd, a company statement said.

Untapped potential


The IAFL Chairman and Managing Director, Mr V.P. Mahendru said: “With the Government pushing for reforms in the power sectors and more than Rs 35,000 crore being earmarked for the same, there is huge untapped potential in distribution business. Our foray into power distribution business is a logical extension of our electrical equipments business and will further enhance our diverse offering of products and services…

“Indo Asian Power Distribution and Infrastructure Ltd will strive to improve power distribution and reduce losses by introducing efficient systems and processes such as spot billing, remote meter sensing and regular energy audits.” The new company will have a consultancy and construction wing to carry out survey and take up construction work on turn key basis. The company will initially have a workforce of over 100 engineers.