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FOR IMMEDIATE RELEASE No.2887
Mitsubishi Electric to Open Rolling Stock Equipment Factory in India
Aims to expand transportation-systems business in Indian market
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TOKYO, December 4, 2014-Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its Indian subsidiary Mitsubishi Electric India Pvt. Ltd. will build a factory to produce electrical equipment for rolling stock, aiming to expand its transportation-systems business in the Indian market. Construction is planned to finish in September 2015, followed by the start of production in December that year.
The factory, which is expected to cost around 8 million USD, will have a perimeter measuring 4,605 square meters. Located in the suburbs of Bengaluru, it will produce traction inverters, motors and other electrical equipment for rolling stock, and it will also have equipment-maintenance facilities. Initial staffing will total about 50 people.
Takahiro Kikuchi, Executive Officer and Group President of Public Utility Systems of Mitsubishi Electric, said: "The Indian market is growing rapidly, fueled by the country's increasing population and rising demands for eco-friendly mass transportation systems. Several major infrastructure projects are under consideration in India, including some with yen loan, and we plan to support them in an effort to expand our transportation-systems business."
The factory launch is a part of a growth strategy under which Mitsubishi Electric aims to achieve transportation-systems annual revenue of 2.7 billion USD, by 2020.
The factory, which is expected to cost around 8 million USD, will have a perimeter measuring 4,605 square meters. Located in the suburbs of Bengaluru, it will produce traction inverters, motors and other electrical equipment for rolling stock, and it will also have equipment-maintenance facilities. Initial staffing will total about 50 people.
Takahiro Kikuchi, Executive Officer and Group President of Public Utility Systems of Mitsubishi Electric, said: "The Indian market is growing rapidly, fueled by the country's increasing population and rising demands for eco-friendly mass transportation systems. Several major infrastructure projects are under consideration in India, including some with yen loan, and we plan to support them in an effort to expand our transportation-systems business."
The factory launch is a part of a growth strategy under which Mitsubishi Electric aims to achieve transportation-systems annual revenue of 2.7 billion USD, by 2020.
Rendition of envisioned factory in Bengaluru
About Mitsubishi Electric India Pvt. Ltd.
| Managing Director | Makoto Kitai |
| Head Office | 2nd Floor, Tower A & B, DLF Cyber Green, DLF Cyber City, DLF Phase -III, Gurgaon, Haryana - 122002, India. |
| Ownership | Mitsubishi Electric Asia Pte Ltd.: 70%, Mitsubishi Electric Corporation: 30% |
| Paid-in capital | 2.72 billion INR (approximately 39 million USD) |
| Established | September 21, 2010 |
| Employees | 656 |
| Business | Development, manufacturing, sales and service of Factory automation products, Sales and Service of Air conditioners, Visual information systems, and Power semiconductor, Manufacturing, sales and service of Rolling stock equipment |