Indo Asian Fusegears starts new plant

Indo Asian Fusegear Ltd has informed that the Company on January 03, 2008 has inaugurated its new state of the art Switchgear Plant at SIDCUL (Haridwar) Uttrakhand.

In this regard the Company has issued the following Press Release:

"Indo Asian Fusegear Ltd has commissioned new state-of-the-art Switchgear plant in Uttrakhand. This is a full scale manufacturing unit, which has been set up with a project cost of Rs 40 crore, and will have a annual production capacity of over Rs 200 crores, when fully operational. Thus, this will enable Indo Asian to nearly double its switchgear production capabilities.

The plant is inaugurated by the Hon'ble Chief Minister of Uttrakhand, Maj. Gen. (Retd.) Bhuwan Chand Khanduri.

To leverage the burgeoning opportunities in the Indian and Global power industry, Indo Asian has been aggressively ramping up its production capacity, as well as introducing new business lines to cater to emerging business opportunities.

This switchgear plant is second of the three plants planned by Indo Asian at SIDCUL,
Uttrakhand. Indo Asian has already set up its lighting equipment plant at SIDCUL last year. Indo Asian is also setting up another plant for home automation & switches, in JV with Simon (Spain) at SIDCUL, which is likely to be commissioned by the end of the current financial year.

On this occasion Mr. V P Mahendru, Chairman and Managing Director, of the Company said: "With this new facility, Indo Asian has taken another step towards becoming one of the largest players in electrical equipment business in India. This new facility will improve our ability to develop and deliver world class electrical switchgear products, and will also equip us to keep pace with the growing demand for switchgears globally".

The plant is spread over an area of 1.6 lakh sq feet and has a capacity of producing goods worth Rs 200 crore per annum, that will primarily cater to the domestic market. The facility would also Generate huge employment opportunities in the state."