CHENNAI, India & TOKYO--(BUSINESS WIRE)--Toshiba JSW Turbine and Generator Pvt. Ltd. (Toshiba JSW), a 75:25 joint venture between Japan-based Toshiba Corporation and India's leading conglomerate JSW Group, inaugurated its super critical steam turbine and generator manufacturing facility in Chennai on February 12, 2012. The main plant was inaugurated in the presence of the Selvi J Jayalalithaa, Hon'ble Chief Minister of Tamil Nadu.
The new manufacturing facility will produce high-efficiency steam turbines and generators for super critical thermal power plants, in generating capacities ranging from 500MW to 1000MW.
The plant will have an annual production capacity of 3000MW by the end of FY2012. It will form a major manufacturing hub serving the global markets, alongside Toshiba’s manufacturing base in Japan.
Toshiba JSW also announced plans to double manufacturing capacity to 6000MW by FY2015, when it will aim for US$400 million in sales. Its initial production will be shipped to customers in India, and subsequent output will also be exported to emerging economies of Southeast Asia and the Middle East.
The expansion will also see Toshiba JSW increase its employee base in India to 500 over the next three years, from around 200 today.
Construction of the manufacturing facility with a floor area of around 60,000 square meters, commenced in February 2010 on a 400,000 square meters plot close to Ennore in Chennai. The plant includes a blade manufacturing shop that was completed in January 2011 and now produces specialized turbine blades.
Mr. Norio Sasaki, President and CEO of Toshiba Corporation, offered his views on the new plant: “We at Toshiba are delighted to celebrate the official inauguration of this important facility, which we position as an essential hub to sustain the long-term growth of our global thermal power plant system business. I believe this facility will also contribute to strengthening the ever-growing ties between our countries, and allow us contribute to the dynamic development of the Indian economy through our technologies, manufacturing and employment creation.”
Commenting on the occasion, Mr. Sajjan Jindal, Chairman & Managing Director, JSW Energy Limited, said, “Establishing a state-of-art power equipment manufacturing facility in India is in line with our long term vision to be present in the entire value chain of power business from equipment manufacturing, generation, transmission, power trading and distribution. Toshiba JSW’s manufacturing facility built with active support from the Tamil Nadu government, will further contribute to the development of local industry and will contribute to achieving self-sufficiency in sourcing of power equipment in India.”
Mr. Itaru Ishibashi, Managing Director of Toshiba JSW Turbine and Generator Pvt. Ltd., said: “Toshiba JSW will manufacture steam turbines and generators for leading edge thermal power plants, and by doing so will contribute to the development of India’s power industry. The support we have received from the government and local community gives me every confidence for the long term success of Toshiba JSW.”
Driven by strong economic growth, the Indian power generation equipment market is expected to see a demand growth of more than 16,000MW per year in the decade from 2007 to 2017. Coal-fired thermal power projects will account for over 60 percent of this projected capacity growth. The global market is also expected to see continued growth in demand for thermal power generation equipment in growing markets, to about 84,000MW per annum by the year 2020.
About Toshiba:
Toshiba is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 490 companies, with 203,000 employees worldwide and annual sales surpassing 6.3 trillion yen (US$77 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm.
About JSW Group:
JSW Group, a part of the USD 15 billion O.P. Jindal Group, is one the fastest growing business conglomerate. The Group has diversified interest in steel, power, cement, mining, port and infrastructure.
JSW Steel Limited, the flagship company of the JSW Group, is an integrated steel manufacturer and one of the lowest cost steel producers in the world. The company is engaged primarily in manufacture of carbon steel products and has an installed domestic capacity of 14.3 million tonnes.
JSW Energy, part of the JSW Group, is a growing energy company. It has the operational generating capacity of 2600 MW, apart from 540 MW of generating capacity under construction. The company aims to generate 3,140 MW by 2012. It has an early entrant in the Power Trading and Power Transmission business and plans to enter into power distribution, renewable generation, etc. It is working towards building a full service integrated energy business.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50165748&lang=en