Bangalore, March 23 (IANS) Japanese electronics major Hitachi Ltd will build thermal power control systems in a joint venture with SFO Technologies Ltd of NeST group at its newly set-up facility on the outskirts of this tech hub.
"We have identified India as a key market to expand our energy business and build control system engineering capability, beginning with thermal power control systems," Hitachi vice-president Yutaka Saito said in a statement here Friday.
The Rs.30-crore Hitachi NeST Control Systems joint venture (JV) will provide engineering, manufacturing, commissioning and after-service advanced control systems for thermal power plants and supply super-critical turbines, generators and boilers from BGR Energy Systems Ltd, in which Hitachi invested an unspecified amount.
"With power generation being part of the critical infrastructure, market for information and control systems is projected to grow exponentially as India plans to add about 200GW (giga watt) over the next 10 years. Major investments will be made to set up mega thermal plants across the country by state-run and private enterprises," Saito said.
Hitachi has been using Kochi-based SFO Technologies' engineering services in thermal power control systems over the years for power projects within and outside India.
"Hitachi's advanced technologies and our design, engineering and manufacturing infrastructure will be a synergistic fit for the new venture. In view of huge investments being made in the power sector, our JV will capitalise the emerging opportunities and talent available in the country," SFO managing director N. Jehangir said.
The $112-billion Hitachi is also focusing on accelerating the global development of the social innovation business, which is made up of social infrastructure supported by information and telecommunications technology.
As NeST group's flagship company, SFO provides its products and services to its worldwide customers in healthcare, industrial, energy, communication and transportation sector.
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