Toshiba's Billion-Yen Boost for Power Equipment in India

Toshiba Group announced on Thursday it will invest 10 billion Japanese yen, equivalent to over Rs 500 crore, to boost the production capacity of power transmission and distribution equipment in India.

Toshiba Transmission & Distribution Systems (India) Pvt Ltd (TTDI) aims to increase its manufacturing power and distribution transformers by 1.5 times from FY2024 to FY2026. This initiative underscores Toshiba's commitment to making and exporting from India, enhancing operational efficiency, and expanding its business reach both domestically and internationally.

Chairperson and Managing Director of TTDI, Hiroshi Furuta, said, ''This new investment will improve our operational efficiency, increase speed-to-market, and support expanding our business in India and overseas.'' The investment will increase assembly and testing capacities, focusing on high-demand transformers for the Indian market and exports.

Additionally, the expansion will facilitate a dedicated facility for CRGO steel processing, improving lead times and product quality. TTDI will also establish a new plant for surge arresters, expected to enter the market in the latter half of FY24.

TTDI offers innovative and reliable technologies for renewable energy sectors, including photovoltaic inverters and gas-insulated switchgear. The focus will extend to enhancing solutions for energy, smart cities, petrochemical plants, and railways.

(With inputs from agencies.)