Electrification and automation company ABB India announced investment on Friday 1,000 crore in the country over the next five years for capacity expansion, said a top company official.
Country head and managing director Sanjeev Sharma said the company, which inaugurated a new facility in Nashik on Friday, would invest the money to increase capacity across the country.
He said that ABB India is planning to invest 1,000 crore over the next five years for capacity expansion.
The company’s new factory is spread over 78,000 square feet. The company said in its statement that this will help in doubling the gas insulated switchgear (GIS) production capacity.
The new facility will house the primary and secondary GIS. It will serve the development of power distribution, smart cities, data centres, transportation (metro, railways), tunnels, ports, highways and other infrastructure.
The company has deployed advanced robotics for manufacturing that connects people, processes, PropertyAnd the new facility in Nashik is capable of relaying real-time data for increased productivity.
In line with the company’s Sustainability Strategy 2030 targets, the factory has also realized its 100% renewable electricity commitment to achieve a low carbon operation.
The company also launched an eco-efficient switchgear.
“ABB is committed to making more sustainable and resource-efficient Future, We use global technology combined with local engineering as a catalyst to introduce green alternatives to the market. This new GIS factory is a testimony to ABB’s commitment towards creating a self-reliant India in manufacturing and contributing to the country’s net zero journey,” said Sanjeev Sharma, country head and managing director, ABB India.
ABB India registered a growth of 62.3% Net profit on 306 crore for the fourth quarter ending December 31, 2022. it is against net profit 194 crore in the year-ago period.
abb india achieved a significant milestone in order booking by reaching 10,028 crore in CY2022 and 2,335 crore for Q4 CY2022.
The growth during the quarter (Q4 CY2022) was driven by large value orders in segments such as data centers in industrial solutions and electrification. In motion, better penetration in sectors such as railways, metals, rubber and food & beverages and increased presence in tier 1 and 2 cities drove the growth.
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