+
Mitsubishi Electric to infuse Rs 220 cr to develop factory in Pune
POWER & RENEWABLE ENERGY

Mitsubishi Electric to infuse Rs 220 cr to develop factory in Pune

Mitsubishi Electric Corporation told the media that it would invest about Rs 220 crore in its Indian subsidiary to develop a new factory near Pune in Maharashtra.

Its subsidiary Mitsubishi Electric India will produce inverters and other factory automation (FA) control system products.

The factory is anticipated to begin operations in December 2023 and would expand the company's capabilities to satisfy the growing demand in India.

The rapidly expanding Indian market is growing at an annual rate of about 8% specifically in industries such as pharmaceuticals, automobiles, food & beverage, data centres, and textiles, with further market growth expected in the future, it said.

The new two-floor, 15,400 square-metre factories will be constructed on 40,000 sq m of land around Pune.

It will help in expanding Mitsubishi Electric's production capabilities to fulfil local demand for products, and also contribute to the Make in India initiative encouraged by the Indian government, the company said.

In addition, the facility will include various features seeking to attain carbon neutrality by decreasing carbon dioxide emissions by using highly efficient air conditioning systems and LED lighting tools.

It will also satisfy sustainable development goals (SDGs) by reusing wastewater via underground filtration treatment and greening.

Mitsubishi Electric India is in the business of development, manufacture, sales, and after-sales service of FA control system products, sales, and after-sales services for air conditioners, and semiconductors; manufacture, electrical products sales, and after-sales service for railway vehicles.

Mitsubishi Electric Corporation, headquartered in Tokyo, is a world leader in electrical and electronic equipment utilised in information processing and communications, consumer electronics, industrial technology, transportation, space development and satellite communications, energy, and building equipment.

The company had registered a revenue of $ 36.7 billion in the FY ended March 2022.

Image Source

Also read: Maruti, Hero, Tata Motors among 75 firms to qualify for PLI scheme

Mitsubishi Electric Corporation told the media that it would invest about Rs 220 crore in its Indian subsidiary to develop a new factory near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will produce inverters and other factory automation (FA) control system products. The factory is anticipated to begin operations in December 2023 and would expand the company's capabilities to satisfy the growing demand in India. The rapidly expanding Indian market is growing at an annual rate of about 8% specifically in industries such as pharmaceuticals, automobiles, food & beverage, data centres, and textiles, with further market growth expected in the future, it said. The new two-floor, 15,400 square-metre factories will be constructed on 40,000 sq m of land around Pune. It will help in expanding Mitsubishi Electric's production capabilities to fulfil local demand for products, and also contribute to the Make in India initiative encouraged by the Indian government, the company said. In addition, the facility will include various features seeking to attain carbon neutrality by decreasing carbon dioxide emissions by using highly efficient air conditioning systems and LED lighting tools. It will also satisfy sustainable development goals (SDGs) by reusing wastewater via underground filtration treatment and greening. Mitsubishi Electric India is in the business of development, manufacture, sales, and after-sales service of FA control system products, sales, and after-sales services for air conditioners, and semiconductors; manufacture, electrical products sales, and after-sales service for railway vehicles. Mitsubishi Electric Corporation, headquartered in Tokyo, is a world leader in electrical and electronic equipment utilised in information processing and communications, consumer electronics, industrial technology, transportation, space development and satellite communications, energy, and building equipment. The company had registered a revenue of $ 36.7 billion in the FY ended March 2022. Image Source Also read: Maruti, Hero, Tata Motors among 75 firms to qualify for PLI scheme

Next Story
Technology

Minda, Qualcomm Join Forces for Smart Auto Cockpit Tech

Minda Corporation Limited, the flagship of the Spark Minda Group, has announced a strategic partnership with Qualcomm Technologies, Inc. to develop intelligent and connected cockpit solutions for the Indian automotive market. The upcoming smart interface will be powered by Qualcomm’s Snapdragon Cockpit Platform.Commenting on the collaboration, Suresh D, Group CTO of Minda Corporation, said, “This partnership with Qualcomm Technologies marks a major milestone in advancing Minda’s digital cockpit capabilities. By utilising Qualcomm’s cutting-edge automotive platforms, we can now offer se..

Next Story
Infrastructure Transport

Railways Spent Rs 604.7 Billion on Passenger Subsidy in FY24

New Delhi – The Indian Railways provisionally spent Rs 604.7 billion in subsidies during the financial year 2023–24, covering 45 per cent of passenger travel costs, Railway Minister Ashwini Vaishnaw informed the Lok Sabha on Wednesday.In a written response to questions from multiple Members of Parliament regarding the recent rail fare hike, Vaishnaw stated that the Indian Railways continues to offer one of the most affordable transport services globally, ferrying over 7.2 billion passengers annually."The total amount of subsidy provided in FY 2023–24 on passenger travel is provisionally ..

Next Story
Infrastructure Urban

Auto Sector Can Cut Emissions by 87% by 2050: CEEW

India’s automobile industry could reduce its manufacturing emissions by 87 per cent by 2050 through a shift to green electricity and low-carbon steel, according to a study released by the Council on Energy, Environment and Water (CEEW).The report estimates that if original equipment manufacturers (OEMs) and their suppliers target net-zero emissions by 2050, annual emissions could fall from a projected 64 million tonnes of CO₂ (under the business-as-usual scenario) to just 9 million tonnes. This would require OEMs to adopt 100 per cent green electricity and steel suppliers to source 56 per ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?