Toshiba to invest $30 m in T&D business.

Japanese conglomerate Toshiba Corporation will invest $30 million (around Rs. 180 crore) to reinforce its transmission and distribution business in India, the company said.

The investment will be made in setting up production capacity at Toshiba Transmission and Distribution Systems (India)'s plant in Hyderabad, the company said in a statement. 'A new line of large power transformers will come on line in spring 2015, at the same time as the launch of a new line for switchgears.'

'India is a high-growth market that Toshiba has positioned as a strategic base for its power-related business. In the period up to fiscal 2015-16, Toshiba plans to invest a cumulative $100 million in its transmission and distribution business, including the current investment,' said Katsutoshi Toda, Chairman and Managing Director of Toshiba Transmission and Distribution Systems.

Toda added that the company aims to grab a 20 per cent share of the Indian market by 2018 and wants to make India a production base for other major markets, including Europe, ASEAN and Africa.


HBL