Swiss technology giant Hitachi Energy on Wednesday said it will invest Rs 2,000 crore in India over the next four to five years to aggressively expand its production capacity and portfolio in various segments. This has reflected the strategy of the company towards strengthening its market position in the energy infrastructure sector of India that is fast-moving backward from utilities to industrial applications and transportation.
N Venu, the Managing Director and CEO of Hitachi Energy India and South Asia, made it known that this huge investment will be used in the enhancement of production capabilities of both large and small power transformers, dry and traction transformers as well as the expansion of insulation and component manufacturing sector. Venu further added that the annual investment commitment for the company will be near Rs 400 crore on average, due to the company’s commitment to topping its infrastructure and services for the Indian market. Hitachi Energy, a business of Hitachi Ltd., aims to strengthen its high-voltage direct current solutions. This space will see higher demand as India transitions into more efficient and greener power grids.
The company plans to improve its network control solutions to meet the needs of industries, utilities, and the transportation sector—key growth areas in India’s changing energy scene.
This investment plan comes as Hitachi Energy India works to grow its workforce. This suggests that creating jobs and developing skills in advanced energy solutions will play a big role in the company’s long-term plans for the region. Venu also said that Hitachi Energy India is looking at different ways to fund this plan, including raising money from market sources.
The company’s stock on the Bombay Stock Exchange (BSE) went up and down after the announcement. Shares ended at Rs 13,419.95 falling 5.85% in a shaky market. Even with this change, Hitachi Energy shows it believes in India’s strong need for cutting-edge energy answers. This move also shows its plan to play a big part in upgrading India’s energy setup.
This long-term investment fits with Hitachi Energy’s worldwide aims to boost energy strength and eco-friendliness. It also goes hand in hand with India’s own goals to improve its energy system and push for clean energy options.
