The Hindu : Business : Vestas RRB sees export opportunities

Online edition of India's National Newspaper
Tuesday, Aug 01, 2006

Business

Business

Vestas RRB sees export opportunities

Special Correspondent

To move services and maintenance jobs to Madurai

CHENNAI: With no let up in escalating oil prices in the global markets, Vestas RRB India Ltd. has decided to tap export opportunities for its wind electric generators.

Indicating this at a press conference here on Saturday, Rakesh Bakshi, Managing Director, said the company had been receiving good overseas enquiries. He was confident that Vestas RRB would gain a toehold in markets like the U.S. and Europe. He also saw huge export possibilities in North and South America.

Investment destination

Replying to questions, Mr. Bakshi said exports would comprise at least 15-20 per cent of its revenue this year. The company reported a turnover of Rs. 610 crore in 2005-06 with the installation of wind generators totalling 130 MW.

He expected the company to gross a turnover of Rs. 1,000 crore this year.

He said Vestas RRB would move its services and maintenance jobs to Madurai. He indicated that Madurai could be the next investment destination for Vestas RRB. Nothing, however, had yet been finalised.

Mr. Bakshi said the upcoming state-of-the-art wind electric generator (WEG) blade manufacturing facility in Chennai would go on stream by April 2007.

The facility will come up in two stages.

The first phase will involve an investment of Rs. 35 crore. Blades and gearbox - two crucial components of a WEG - are currently imported. Local production of blades, according to Mr. Bakshi, would save cost by 10-15 per cent.

He also said that Vestas RRB was talking to a few companies to explore the possibility of making gearbox locally. The second phase will see an investment of Rs. 65 crore to make higher capacity WEGs.

Printer friendly page
Send this article to Friends by E-Mail

Business